Envestnet (NYSE:ENV) updated its third quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.58-0.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.61. The company issued revenue guidance of $232.5-235.5 million, compared to the consensus revenue estimate of $238.74 million.Envestnet also updated its FY 2019 guidance to $2.10-2.12 EPS.
Several brokerages have recently weighed in on ENV. SunTrust Banks began coverage on shares of Envestnet in a report on Thursday, April 18th. They issued a buy rating and a $80.00 target price on the stock. ValuEngine downgraded shares of Envestnet from a buy rating to a hold rating in a report on Thursday. Royal Bank of Canada lifted their target price on shares of Envestnet to $71.00 and gave the company a sector perform rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Envestnet from a sell rating to a hold rating in a report on Wednesday, April 24th. Finally, Raymond James lifted their target price on shares of Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a report on Thursday, July 11th. Six 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 company. Envestnet currently has a consensus rating of Buy and a consensus price target of $73.30.
Shares of NYSE:ENV traded down $2.76 during midday trading on Friday, hitting $58.42. The stock had a trading volume of 682,728 shares, compared to its average volume of 303,406. The stock has a market cap of $3.16 billion, a P/E ratio of 46.74, a PEG ratio of 2.86 and a beta of 1.67. The company’s 50 day moving average price is $69.77. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.60. Envestnet has a 1 year low of $46.57 and a 1 year high of $73.94.
In related news, COO Joshua Mayer sold 500 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $69.86, for a total value of $34,930.00. Following the completion of the sale, the chief operating officer now owns 28,602 shares in the company, valued at $1,998,135.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anil Arora sold 2,261 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $66.79, for a total transaction of $151,012.19. Following the completion of the sale, the director now owns 40,706 shares of the company’s stock, valued at approximately $2,718,753.74. The disclosure for this sale can be found here. Insiders sold 116,064 shares of company stock valued at $8,123,684 in the last quarter. Company insiders own 4.97% of the company’s stock.
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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