Envestnet (NYSE:ENV) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Envestnet (NYSE:ENV) issued its earnings results on Thursday. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $233.02 million. During the same quarter last year, the business earned $0.53 earnings per share. The business’s 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 company had a trading volume of 762,836 shares, compared to its average volume of 327,360. The company has a market capitalization of $3.28 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76. The stock has a 50-day moving average price of $59.77 and a 200 day moving average price of $64.58. Envestnet has a 52 week low of $46.57 and a 52 week high of $73.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54.

In related news, CFO Peter D’arrigo sold 5,000 shares of Envestnet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $62.50, for a total value of $312,500.00. Following the sale, the chief financial officer now owns 57,747 shares in the company, valued at $3,609,187.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Crager sold 18,500 shares of Envestnet stock in a transaction on Monday, August 12th. The shares were sold at an average price of $58.13, for a total transaction of $1,075,405.00. Following the completion of the sale, the insider now owns 243,512 shares in the company, valued at approximately $14,155,352.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,375 shares of company stock worth $6,795,807. 4.97% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on ENV. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. DA Davidson raised their target price on shares of Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Buckingham Research cut their target price on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. Finally, ValuEngine cut shares of Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Envestnet presently has an average rating of “Buy” and an average price target of $74.00.

About Envestnet

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.

See Also: Asset Allocation, Balancing Your Investments

Earnings History for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.