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.

ENV has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded Aeroports de Paris from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 9th. SunTrust Banks upped their target price on PepsiCo to $120.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Finally, Buckingham Research downgraded Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 target price for the company. in a research note on Thursday, May 9th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Envestnet presently has a consensus rating of “Buy” and a consensus target price of $73.30.

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.

Further Reading: Calculate Your Return on Investment (ROI)

Get a free copy of the Zacks research report on Envestnet (ENV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.