Envestnet Inc (ENV) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.20. The company posted revenue of $141.70 million in the period, compared to analysts expectations of $139.22 million. The company’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Many Wall Street Analysts have commented on Envestnet Inc. Company shares were Upgraded by UBS on Jun 2, 2016 to ” Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $33 .
Envestnet Inc opened for trading at $39.96 and hit $40.89 on the upside on Friday, eventually ending the session at $40.18, with a gain of 0.73% or 0.29 points. The heightened volatility saw the trading volume jump to 3,92,935 shares. Company has a market cap of $1,715 M.
In a different news, on Aug 5, 2016, Shelly O’brien (Chief Legal Officer) sold 1,000 shares at $40.00 per share price. According to the SEC, on Aug 4, 2016, Anil Arora (director) sold 4,900 shares at $40.00 per share price. On May 12, 2016, Charles Roame (director) purchased 3,428 shares at $31.69 per share price, according to the Form-4 filing with the securities and exchange commission.
Envestnet Inc. (Envestnet) provides wealth management software and services to financial advisors and institutions. The Company works with Independent Registered Investment Advisors and advisors associated with financial institutions. The Company’s technology platform services include risk assessment and selection of investment strategies and solutions asset allocation models research and due diligence portfolio construction proposal generation and paperwork preparation model management and account rebalancing account monitoring customized fee billing overlay services covering asset allocation tax management and socially responsible investing aggregated multi-custodian performance reporting and communication tools as well as access to a wide range of leading third-party asset custodians. The product and services of the Company include: Envestnet’s wealth management software Envestnet PMC Envestnet Tamarac Vantage Reporting Solution Envestnet WMS and Envestnet Placemark.