DA Davidson Comments on Envestnet Inc’s FY2018 Earnings (ENV)
Envestnet Inc (NYSE:ENV) – Stock analysts at DA Davidson boosted their FY2018 earnings per share estimates for shares of Envestnet in a research note issued to investors on Monday. DA Davidson analyst P. Heckmann now forecasts that the business services provider will post earnings per share of $1.16 for the year, up from their prior forecast of $1.14.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The business had revenue of $175.61 million for the quarter, compared to analysts’ expectations of $171.57 million. During the same period in the prior year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis.
Several other research firms have also recently issued reports on ENV. UBS Group decreased their price target on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, October 10th. Royal Bank of Canada restated a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Stifel Nicolaus restated a “buy” rating and issued a $62.00 price target (up previously from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Finally, JMP Securities raised their price target on shares of Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, September 26th. They noted that the move was a valuation call. Three equities research 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 stock. The company presently has an average rating of “Buy” and an average price target of $55.00.
Shares of Envestnet (ENV) remained flat at $$52.10 during midday trading on Wednesday. 166,700 shares of the stock were exchanged, compared to its average volume of 223,917. The stock has a market capitalization of $2,290.00, a price-to-earnings ratio of -42.02, a PEG ratio of 2.81 and a beta of 1.90. 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.
Several institutional investors and hedge funds have recently bought and sold shares of ENV. Schwab Charles Investment Management Inc. raised its stake in shares of Envestnet by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 185,497 shares of the business services provider’s stock valued at $7,346,000 after purchasing an additional 6,832 shares during the period. Rhumbline Advisers grew its position in shares of Envestnet by 2.6% during the second quarter. Rhumbline Advisers now owns 49,423 shares of the business services provider’s stock worth $1,957,000 after buying an additional 1,237 shares in the last quarter. Legal & General Group Plc grew its position in shares of Envestnet by 3.9% during the second quarter. Legal & General Group Plc now owns 15,612 shares of the business services provider’s stock worth $616,000 after buying an additional 592 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Envestnet by 525.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after buying an additional 4,328 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Envestnet by 0.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 25,092 shares of the business services provider’s stock worth $994,000 after buying an additional 138 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.
In other news, COO Joshua Mayer sold 30,800 shares of Envestnet stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $52.06, for a total transaction of $1,603,448.00. Following the sale, the chief operating officer now owns 51,207 shares in the company, valued at $2,665,836.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President William Crager sold 5,000 shares of Envestnet stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $53.31, for a total transaction of $266,550.00. Following the sale, the president now owns 150,555 shares in the company, valued at approximately $8,026,087.05. The disclosure for this sale can be found here. Insiders have sold 287,585 shares of company stock worth $14,592,961 in the last quarter. Insiders own 5.58% of the company’s stock.
Envestnet Company Profile
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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