Envestnet (NYSE:ENV) announced its quarterly earnings results on Thursday. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Briefing.com reports. The firm had revenue of $236.08 million during the quarter, compared to analysts’ expectations of $233.02 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share.
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Shares of NYSE ENV traded up $1.24 during mid-day trading on Friday, reaching $64.44. 762,836 shares of the company were exchanged, compared to its average volume of 327,360. The company’s 50-day simple moving average is $59.77 and its 200-day simple moving average is $64.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.28 billion, a P/E ratio of 51.55, a P/E/G ratio of 2.80 and a beta of 1.76. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94.
A number of research firms have recently issued reports on ENV. DA Davidson raised their target price on shares of Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. ValuEngine cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Buckingham Research cut their target price on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.00.
In related news, CFO Peter D’arrigo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.81, for a total transaction of $314,050.00. Following the transaction, the chief financial officer now directly owns 57,747 shares of the company’s stock, valued at $3,627,089.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Crager sold 18,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $58.13, for a total transaction of $1,075,405.00. Following the transaction, the insider now directly owns 243,512 shares in the company, valued at $14,155,352.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,375 shares of company stock valued at $6,795,807. 4.97% of the stock is currently owned by corporate insiders.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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