Jefferies Group Weighs in on Envestnet, Inc’s Q4 2017 Earnings (ENV)
Envestnet, Inc (NYSE:ENV) – Research analysts at Jefferies Group raised their Q4 2017 EPS estimates for Envestnet in a report released on Thursday. Jefferies Group analyst S. Thind now expects that the business services provider will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.28. Jefferies Group has a “Buy” rating and a $65.00 price target on the stock.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $52.00 price target on shares of Envestnet in a research note on Tuesday, September 26th. Raymond James Financial, Inc. boosted their target price on shares of Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, October 10th. UBS AG reissued a “buy” rating and issued a $63.00 target price (up previously from $50.00) on shares of Envestnet in a research note on Monday, October 9th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Envestnet in a research note on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.63.
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Envestnet (NYSE:ENV) opened at $51.70 on Monday. The stock has a market capitalization of $2,279.53, a price-to-earnings ratio of 65.96, a PEG ratio of 3.87 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.61 and a current ratio of 0.61. Envestnet has a one year low of $30.80 and a one year high of $55.15.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $175.61 million during the quarter, compared to the consensus estimate of $171.57 million. Envestnet had a positive return on equity of 8.93% and a negative net margin of 8.15%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS.
In other Envestnet news, COO Joshua Mayer sold 1,500 shares of Envestnet stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.66, for a total value of $65,490.00. Following the completion of the sale, the chief operating officer now owns 13,796 shares in the company, valued at approximately $602,333.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Judson Bergman sold 20,000 shares of Envestnet stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.21, for a total value of $1,064,200.00. The disclosure for this sale can be found here. Insiders sold a total of 67,964 shares of company stock valued at $3,499,553 in the last three months. 5.58% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of Envestnet by 559.6% during the 2nd quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock worth $159,101,000 after purchasing an additional 3,408,580 shares during the period. Vanguard Group Inc. grew its holdings in shares of Envestnet by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock worth $136,803,000 after purchasing an additional 188,892 shares during the period. BlackRock Inc. grew its holdings in shares of Envestnet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock worth $105,446,000 after purchasing an additional 81,056 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of Envestnet by 3.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,985,952 shares of the business services provider’s stock worth $78,644,000 after purchasing an additional 57,555 shares during the period. Finally, Van Berkom & Associates Inc. grew its holdings in shares of Envestnet by 8.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after purchasing an additional 133,303 shares during the period. Institutional investors own 97.48% 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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