Analysts expect Envestnet Inc (NYSE:ENV) to post earnings of $0.39 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.40. Envestnet reported earnings of $0.32 per share during the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Envestnet will report full year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.31. For the next fiscal year, analysts anticipate that the company will report earnings of $1.77 per share, with EPS estimates ranging from $1.58 to $2.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Envestnet.
Several brokerages have weighed in on ENV. Zacks Investment Research raised Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Tuesday, January 9th. UBS Group dropped their price objective on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price objective (up from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.00.
In other news, insider Anil Arora sold 755 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $54.80, for a total transaction of $41,374.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $53.06, for a total value of $159,180.00. The disclosure for this sale can be found here. Insiders have sold a total of 178,449 shares of company stock valued at $9,022,990 in the last three months. 5.58% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund grew its position in Envestnet by 5.9% during the 2nd quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 2,599 shares during the last quarter. American Century Companies Inc. bought a new stake in Envestnet during the 3rd quarter worth $2,505,000. UBS Asset Management Americas Inc. grew its position in Envestnet by 123.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,406 shares of the business services provider’s stock worth $966,000 after acquiring an additional 13,506 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Envestnet by 6.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock worth $73,173,000 after acquiring an additional 85,642 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Envestnet by 33.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 127,868 shares of the business services provider’s stock worth $6,521,000 after acquiring an additional 32,310 shares during the last quarter. Institutional investors and hedge funds own 91.36% of the company’s stock.
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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