Envestnet (NYSE:ENV) posted its quarterly earnings results on Thursday. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02, Briefing.com reports. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The business had revenue of $236.08 million during the quarter, compared to analyst estimates of $233.02 million. During the same period in the previous year, the business posted $0.53 EPS. The company’s quarterly revenue was up 16.2% on a year-over-year basis.
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Envestnet stock traded up $1.24 during midday trading on Friday, reaching $64.44. 762,836 shares of the stock traded hands, compared to its average volume of 327,360. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $59.77 and a two-hundred day moving average price of $64.58. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.80 and a beta of 1.76. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94.
In other Envestnet news, CFO Peter D’arrigo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.81, for a total transaction of $314,050.00. Following the completion of the transaction, the chief financial officer now directly owns 57,747 shares of the company’s stock, valued at approximately $3,627,089.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Crager sold 9,094 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $59.45, for a total transaction of $540,638.30. Following the transaction, the chief executive officer now directly owns 232,788 shares of the company’s stock, valued at $13,839,246.60. The disclosure for this sale can be found here. Insiders have sold a total of 117,375 shares of company stock valued at $6,795,807 over the last three months. 4.97% of the stock is currently owned by company insiders.
Several research analysts have recently commented on ENV shares. DA Davidson lifted their price target on shares of Envestnet from $67.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Buckingham Research decreased their price target on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Friday. Finally, ValuEngine lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $74.00.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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