Envestnet Inc (ENV) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.15. The company posted revenue of $132.00 million in the period, compared to analysts expectations of $131.84 million. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.
Many Wall Street Analysts have commented on Envestnet Inc. Shares were Reiterated by Stifel on Apr 8, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $56 .Jefferies Initiated Envestnet Inc on Mar 24, 2016 to “Buy”, Price Target of the shares are set at $48.
Envestnet Inc closed down -0.39 points or -1.29% at $29.91 with 3,08,207 shares getting traded on Wednesday. Post opening the session at $30.15, the shares hit an intraday low of $29.71 and an intraday high of $30.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Dec 30, 2015, Brandon Thomas (Chief Investment Officer) sold 62,000 shares at $30.51 per share price. According to the SEC, on Dec 11, 2015, Shelly O’brien (Chief Legal Officer) sold 5,000 shares at $30.59 per share price. On Dec 2, 2015, Anil Arora (director) sold 10,000 shares at $32.50 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.