$225.46 Million in Sales Expected for Envestnet Inc (NYSE:ENV) This Quarter
Brokerages forecast that Envestnet Inc (NYSE:ENV) will report $225.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Envestnet’s earnings, with the highest sales estimate coming in at $226.19 million and the lowest estimate coming in at $224.96 million. Envestnet reported sales of $201.12 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The company is scheduled to report its next earnings results after the market closes on Wednesday, August 7th.
According to Zacks, analysts expect that Envestnet will report full-year sales of $908.96 million for the current year, with estimates ranging from $907.28 million to $910.46 million. For the next year, analysts expect that the company will post sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Envestnet.
Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). The business had revenue of $199.70 million for the quarter, compared to analyst estimates of $201.37 million. Envestnet had a positive return on equity of 10.28% and a negative net margin of 2.52%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share.
In related news, insider Stuart Depina sold 4,805 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total value of $342,164.05. Following the completion of the transaction, the insider now directly owns 44,512 shares of the company’s stock, valued at approximately $3,169,699.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anil Arora sold 2,261 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $66.79, for a total value of $151,012.19. Following the completion of the transaction, the director now directly owns 40,706 shares of the company’s stock, valued at $2,718,753.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,369 shares of company stock valued at $7,367,772. 4.97% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. increased its stake in shares of Envestnet by 0.6% in the 1st quarter. Wasatch Advisors Inc. now owns 2,309,363 shares of the business services provider’s stock worth $151,009,000 after acquiring an additional 13,688 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Envestnet by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 912,274 shares of the business services provider’s stock worth $59,654,000 after acquiring an additional 3,142 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of Envestnet by 21.1% in the 1st quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock worth $50,111,000 after acquiring an additional 133,585 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Envestnet by 20.2% in the 1st quarter. Fiera Capital Corp now owns 766,325 shares of the business services provider’s stock worth $50,110,000 after acquiring an additional 128,805 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Envestnet by 0.3% in the 4th quarter. Northern Trust Corp now owns 648,519 shares of the business services provider’s stock worth $31,900,000 after acquiring an additional 1,857 shares during the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.
Shares of ENV stock traded down $0.05 during trading hours on Thursday, hitting $71.49. 293,671 shares of the company’s stock were exchanged, compared to its average volume of 277,349. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 57.19, a P/E/G ratio of 3.22 and a beta of 1.70. The business’s 50 day moving average price is $70.26. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94.
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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