Envestnet (NYSE:ENV) Announces Quarterly Earnings Results

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Envestnet (NYSE:ENV) issued its 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 firm had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis.

NYSE:ENV traded up $1.24 during trading hours on Friday, hitting $64.44. The stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. Envestnet has a one year low of $46.57 and a one year high of $73.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 2.80 and a beta of 1.76. The business’s 50 day moving average is $59.77 and its 200-day moving average is $64.58.

In other news, COO Joshua Mayer sold 6,881 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $56.15, for a total transaction of $386,368.15. Following the completion of the sale, the chief operating officer now owns 20,190 shares of the company’s stock, valued at $1,133,668.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter D’arrigo sold 5,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $62.50, for a total transaction of $312,500.00. Following the sale, the chief financial officer now directly owns 57,747 shares of the company’s stock, valued at approximately $3,609,187.50. The disclosure for this sale can be found here. Insiders have sold 117,375 shares of company stock valued at $6,795,807 in the last three months. 4.97% of the stock is owned by insiders.

Several equities research analysts have commented on ENV shares. Zacks Investment Research downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. DA Davidson upped their target price on shares of Envestnet from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Buckingham Research lowered their target price on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. Finally, ValuEngine downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Envestnet presently has a consensus rating of “Buy” and a consensus price target of $74.00.

Envestnet Company Profile

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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Earnings History for Envestnet (NYSE:ENV)

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