$225.46 Million in Sales Expected for Envestnet Inc (NYSE:ENV) This Quarter
Equities research analysts expect Envestnet Inc (NYSE:ENV) to report $225.46 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Envestnet’s earnings, with the lowest sales estimate coming in at $224.96 million and the highest estimate coming in at $226.19 million. Envestnet posted sales of $201.12 million in the same quarter last year, which suggests a positive year over year growth rate of 12.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that Envestnet will report full year sales of $908.46 million for the current year, with estimates ranging from $907.00 million to $910.46 million. For the next year, analysts anticipate that the business will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.07 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Envestnet.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $201.37 million. Envestnet had a positive return on equity of 10.28% and a negative net margin of 2.52%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS.
ENV stock traded up $0.80 during mid-day trading on Wednesday, hitting $70.34. The company had a trading volume of 281,080 shares, compared to its average volume of 275,414. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 3.09 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03. Envestnet has a 12 month low of $46.57 and a 12 month high of $72.67. The firm’s fifty day moving average is $68.62.
In other Envestnet news, insider Stuart Depina sold 4,805 shares of Envestnet stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $71.21, for a total transaction of $342,164.05. Following the completion of the sale, the insider now directly owns 44,512 shares in the company, valued at $3,169,699.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joshua Mayer sold 1,000 shares of Envestnet stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $67.54, for a total transaction of $67,540.00. Following the sale, the chief operating officer now owns 29,417 shares of the company’s stock, valued at $1,986,824.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,369 shares of company stock valued at $4,162,272. 4.97% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ENV. Norges Bank bought a new stake in shares of Envestnet in the 4th quarter worth approximately $25,851,000. TimesSquare Capital Management LLC purchased a new position in Envestnet during the 1st quarter valued at $30,983,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Envestnet during the 1st quarter valued at $14,386,000. BlackRock Inc. increased its position in Envestnet by 4.8% during the 4th quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock valued at $164,898,000 after purchasing an additional 152,126 shares during the period. Finally, Champlain Investment Partners LLC increased its position in Envestnet by 21.1% during the 1st quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock valued at $50,111,000 after purchasing an additional 133,585 shares during the period. Institutional investors and hedge funds own 93.83% 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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