Brokerages expect Envestnet Inc (NYSE:ENV) to post sales of $179.42 million for the current quarter, according to Zacks. Five analysts have issued estimates for Envestnet’s earnings. The lowest sales estimate is $178.90 million and the highest is $180.80 million. Envestnet posted sales of $155.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.4%. The company is scheduled to issue its next earnings report on Thursday, March 22nd.
According to Zacks, analysts expect that Envestnet will report full-year sales of $179.42 million for the current financial year, with estimates ranging from $679.70 million to $681.80 million. For the next fiscal year, analysts expect that the firm will post sales of $784.47 million per share, with estimates ranging from $770.00 million to $818.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Envestnet.
Envestnet (NYSE:ENV) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The firm had revenue of $175.61 million during the quarter, compared to analysts’ expectations of $171.57 million. During the same period in the previous year, the firm posted $0.28 EPS. Envestnet’s revenue for the quarter was up 17.7% on a year-over-year basis.
Envestnet (NYSE:ENV) traded up $0.70 during trading hours on Friday, hitting $52.80. The stock had a trading volume of 253,588 shares, compared to its average volume of 267,591. The firm has a market cap of $2,306.12, a PE ratio of 66.73, a P/E/G ratio of 3.86 and a beta of 1.91. Envestnet has a twelve month low of $30.80 and a twelve month high of $55.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63.
In related news, insider Anil Arora sold 16,418 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $50.00, for a total value of $820,900.00. Following the completion of the sale, the insider now directly owns 56,175 shares of the company’s stock, valued at approximately $2,808,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President William Crager sold 5,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $53.31, for a total value of $266,550.00. Following the completion of the sale, the president now directly owns 150,555 shares of the company’s stock, valued at $8,026,087.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 281,511 shares of company stock valued at $14,227,001. Insiders own 5.58% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of Envestnet by 80.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 80,324 shares of the business services provider’s stock valued at $4,097,000 after purchasing an additional 35,706 shares during the period. Ashford Capital Management Inc. raised its stake in Envestnet by 0.4% during the 3rd quarter. Ashford Capital Management Inc. now owns 241,458 shares of the business services provider’s stock valued at $12,314,000 after acquiring an additional 962 shares during the last quarter. California Public Employees Retirement System raised its stake in Envestnet by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 37,156 shares of the business services provider’s stock valued at $1,895,000 after acquiring an additional 2,250 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Envestnet during the 3rd quarter valued at approximately $238,000. Finally, Zions Bancorporation purchased a new stake in Envestnet during the 3rd quarter valued at approximately $181,000. 94.90% of the stock is owned by hedge funds and other institutional investors.
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Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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