Envestnet, Inc (NYSE:ENV) – William Blair upped their Q4 2017 earnings per share (EPS) estimates for shares of Envestnet in a report issued on Tuesday. William Blair analyst C. Shutler now forecasts that the business services provider will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.28. William Blair currently has a “Buy” rating on the stock.
A number of other research firms also recently issued reports on ENV. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price target (up from $45.00) on shares of Envestnet in a research note on Thursday. DA Davidson began coverage on shares of Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price target on the stock. BidaskClub downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 price target on shares of Envestnet in a research note on Friday, July 14th. Finally, Zacks Investment Research raised shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $45.50.
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Shares of Envestnet (NYSE:ENV) remained flat at $42.95 during trading on Friday. The stock had a trading volume of 114,075 shares. The company’s market capitalization is $1.88 billion. The company’s 50-day moving average price is $39.17 and its 200 day moving average price is $36.73. Envestnet has a 52 week low of $30.80 and a 52 week high of $45.18.
Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a positive return on equity of 7.72% and a negative net margin of 8.93%. Envestnet’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share.
A number of large investors have recently made changes to their positions in ENV. Pioneer Investment Management Inc. acquired a new stake in shares of Envestnet during the first quarter valued at $2,807,000. Parametric Portfolio Associates LLC increased its stake in shares of Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock valued at $2,506,000 after buying an additional 41,761 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of Envestnet during the first quarter valued at $194,000. Van Berkom & Associates Inc. increased its stake in shares of Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock valued at $49,091,000 after buying an additional 303,286 shares during the last quarter. Finally, Henderson Group PLC increased its stake in shares of Envestnet by 20.2% in the first quarter. Henderson Group PLC now owns 609,126 shares of the business services provider’s stock valued at $19,675,000 after buying an additional 102,216 shares during the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Peter D’arrigo sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the sale, the chief financial officer now directly owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Roame bought 1,473 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average cost of $35.38 per share, for a total transaction of $52,114.74. Following the completion of the purchase, the director now owns 1,729 shares in the company, valued at $61,172.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,968 shares of company stock worth $145,287 and have sold 32,972 shares worth $1,300,284. 7.80% of the stock is owned by corporate insiders.
Envestnet Company Profile
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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