Q3 2018 EPS Estimates for Envestnet Inc Boosted by Analyst (ENV)
Envestnet Inc (NYSE:ENV) – Equities researchers at DA Davidson increased their Q3 2018 earnings per share (EPS) estimates for Envestnet in a research report issued on Monday. DA Davidson analyst P. Heckmann now anticipates that the business services provider will post earnings per share of $0.30 for the quarter, up from their prior forecast of $0.29.
Envestnet (NYSE:ENV) last announced its 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. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The company had revenue of $175.61 million for the quarter, compared to analysts’ expectations of $171.57 million. During the same quarter in the previous year, the company posted $0.28 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis.
Other equities research analysts have also recently issued research reports about the stock. William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research note on Tuesday, September 26th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 10th. UBS Group lowered their price target on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. JMP Securities boosted their price target on shares of Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “hold” rating and set a $48.00 price target on shares of Envestnet in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Envestnet has an average rating of “Buy” and a consensus target price of $55.00.
Shares of Envestnet (ENV) traded up $1.55 on Thursday, reaching $54.00. 267,100 shares of the company’s stock traded hands, compared to its average volume of 225,800. Envestnet has a 52 week low of $30.80 and a 52 week high of $55.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $2,390.00, a PE ratio of -43.55, a PEG ratio of 2.81 and a beta of 1.90.
In other news, President William Crager sold 5,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $53.31, for a total transaction of $266,550.00. Following the transaction, the president now owns 150,555 shares of the company’s stock, valued at approximately $8,026,087.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total transaction of $39,985.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,585 shares of company stock worth $14,592,961. Corporate insiders own 5.58% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Trust Group LLC purchased a new stake in Envestnet in the 3rd quarter valued at about $1,841,000. Public Employees Retirement System of Ohio raised its holdings in 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 buying an additional 35,706 shares during the period. Ashford Capital Management Inc. raised its holdings in Envestnet by 0.4% in 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 buying an additional 962 shares during the period. California Public Employees Retirement System raised its holdings in Envestnet by 6.4% in 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 buying an additional 2,250 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Envestnet in the 3rd quarter valued at about $238,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.
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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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