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Azenta To Replace Envestnet In S&P SmallCap 600 Effective Prior To The Opening Of Trading On November 25

Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.69 by 1.45 percent. This is a 25 percent increase over earnings of $0.56 per share from the same period last year. The company reported quarterly sales of $345.95 million which missed the analyst consensus estimate of $348.97 million by 0.86 percent. This is a 9.18 percent increase over sales of $316.85 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Envestnet Q3 2024 Adj EPS $0.70 Beats $0.69 Estimate, Sales $345.95M Miss $348.97M Estimate

Envestnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) ("Envestnet," or the "Company"), a leading provider of integrated technology, data intelligence, and wealth solutions, today announced that, at a special meeting (the "Special Meeting"), the Company's stockholders approved the pending acquisition of the Company by affiliates of vehicles managed or advised by&nbsp;Bain Capital (the "Merger").

Envestnet Stockholders Approve Acquisition by Bain Capital

DA Davidson analyst Peter Heckmann maintains Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) with a Neutral and maintains $63 price target.

Price Target

Analyst Ratings

DA Davidson Maintains Neutral on Envestnet, Maintains $63 Price Target

DA Davidson analyst Peter Heckmann downgrades Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) from Buy to Neutral and lowers the price target from $78 to $63.

Downgrades

DA Davidson Downgrades Envestnet to Neutral, Lowers Price Target to $63

Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) has been analyzed by 3 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $62.05, with a high estimate of $64.00 and a low estimate of $59.00. Observing a 4.58% increase, the current average has risen from the previous average price target of $59.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1721149285_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of Envestnet's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alex Kramm</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$63.15</td>
<td>$75.00</td>
</tr>
<tr>
<td>Daniel Perlin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$64.00</td>
<td>$56.00</td>
</tr>
<tr>
<td>Surinder Thind</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$59.00</td>
<td>$47.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Envestnet. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Envestnet compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Envestnet's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Envestnet's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ENV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Envestnet analyst ratings.</a>
<h2>All You Need to Know About Envestnet</h2>
Envestnet provides wealth-management technology and solutions to registered investment advisors, banks, broker/dealers, and other firms. Its Tamarac platform provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software to high-end RIAs. Envestnet's portfolio management consultants provide research services and consulting services to assist advisors, including vetted third-party managed account products. In November 2015, Envestnet acquired Yodlee, a provider of data aggregation, which is reported in the firm's data and analytics segment. In 2019, Envestnet acquired MoneyGuidePro to bolster its financial planning tools.
<h3>Breaking Down Envestnet's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining Envestnet's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 8.79% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Envestnet's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 0.77%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Envestnet's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.44% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Envestnet's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.13% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Envestnet's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.7, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Basics of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Envestnet Analyst Ratings

UBS analyst Alex Kramm downgrades Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) from Buy to Neutral and lowers the price target from $75 to $63.15.

UBS Downgrades Envestnet to Neutral, Lowers Price Target to $63.15

William Blair analyst Jeff Schmitt downgrades Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) from Outperform to Market Perform.

William Blair Downgrades Envestnet to Market Perform

Envestnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>), a provider of integrated technology, intelligent data, and wealth solutions, announced a definitive agreement to be acquired by Bain Capital in a deal valuing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39729026/envestnet-leading-wealth-technology-platform-announces-4-5-billion-take-private-transaction-with-b" rel="noreferrer noopener">company at $4.5 billion ($63.15 per share)</a>.
Reverence Capital and strategic partners, including BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), Fidelity Investments, Franklin Templeton, and State Street Global Advisors, will also invest in the transaction.
Envestnet manages over $6 trillion in assets and supports nearly 20 million accounts through its comprehensive wealth management platform, which serves over 109,000 financial advisors.
The company has been recognized for its role financial planning, portfolio management, TAMP, and billing solutions.
&#8220;Through its deeply connected ecosystem and innovative technology and data capabilities, Envestnet has built an industry-leading platform that the largest wealth management firms, RIAs and broker-dealers rely on to power their businesses,&#8221; said&nbsp;Phil Loughlin, a Partner at Bain Capital.
The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions and shareholder approval. Upon completion, Envestnet will become a privately held company.
Price Action: ENV shares are trading lower by 0.16% at $61.60 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Equities

General

Financial Tech Firm Envestnet To Go Private In $4.5B Bain Capital Deal

Envestnet Says BCPE Pequod Buyer To Pay Co Reverse Termination Fee Of About $220M If Deal Terminated Under Some Circumstances; Co To Pay BCPE Pequod Buyer Termination Fee Of $90.65M If Deal Terminated Under Some Circumstances

Transaction Details Under the terms of the agreement, which has been unanimously approved by the Envestnet Board of Directors, Envestnet shareholders&nbsp;will receive $63.15 in cash for each share of common stock they own. The transaction is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including receipt of approval by&nbsp;Envestnet's shareholders and required regulatory approvals. Upon completion of the transaction, Envestnet's common stock will no longer be publicly listed, and Envestnet will become a privately held company.

Envestnet Announces $4.5B Take-private Transaction With Bain Capital; Shareholders Will Receive $63.15 In Cash For Each Share Of Common Stock They Own

Bain Capital In Advanced Talks To Acquire Envestnet At Close To Current Market Value

Visa Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>) unveiled the revamped Visa SavingsEdge program with new integrated features in a bid to promote smarter spending and generate increased savings for eligible Visa Business credit, debit and reloadable prepaid cardholders across the United States and Canada. The program was initially launched in 2008 and continues to offer rebates to eligible cardholders on qualifying purchases across the participating merchant network.
For more than a decade, Visa SavingsEdge has offered savings, tools and resources for supporting the growth prospects of Small Business cardholders. It provides opportunities to generate savings via the facilities of Instant Coupons and Cashback Offers.&nbsp; Instant Coupons offer discounts via a code at the point of sale without needing to link a card while Cashback Offers give discounts as statement credits when cardholders link their eligible Visa Business card and use it for qualifying purchases. These discounts appear as credits on future account statements.
As part of the latest set of enhancement announcements, Visa SavingsEdge currently comes with an upgraded program website equipped with enhanced features and functionality. Instant Coupons and Cashback Offers have expanded to include new merchant deals across various categories such as travel, restaurants, electronics, business services and more.
The enhanced program makes provision for receiving instant alerts whenever participating cardholders earn cashback on eligible purchases. A cashback tracker also remains in place to allow cardholders to monitor their savings earned through the program. To avail the upgraded program, previously enrolled cardholders need to re-link their cards in the enhanced program to grasp the benefits of Cashback Offers.
The recent move reflects Visa&#39;s longstanding commitment to aid small business units with technological assistance and empower them with enhanced payment solutions. Additionally, an extensive set of benefits via the Visa SavingsEdge program is expected to attract more small businesses to opt for Visa-branded payment products and therefore, boost the revenues of the leader in digital payments.
Visa seems to have undertaken a time-opportune move as well, per the data furnished by the latest Visa Small Business Pulse survey. As 77% of surveyed U.S. businesses anticipate revenue growth in 2024, this has led to an improved economic outlook as well. As a result, around 59% of U.S. small businesses (SMBs) remain optimistic about the economy, which has shot up from 47% in 2023. With 64% of SMBs inclined to invest in cost-saving technology, the enhanced Visa SavingsEdge program seems to provide a perfect ground for the company to capitalize on.
Shares of Visa have gained 19.9% in the past year compared with the industry&#39;s 14.7% growth. V currently carries a Zacks Rank #3 (Hold).
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b4/68891.jpg?v=279148574" /> 
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcmt#NASDAQ">RCMT</a>), Barrett Business Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbsi#NASDAQ">BBSI</a>) and Envestnet, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/env#NYSE">ENV</a>). RCM Technologies currently sports a Zacks Rank #1 (Strong Buy), and Barrett Business Services and Envestnet carry a Zacks Rank #2 (Buy).
The bottom line of RCM Technologies outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 16.97%. The Zacks Consensus Estimate for RCMT&#39;s 2024 earnings implies an improvement of 8.1% from the year-ago reported figure. The same for revenues indicates growth of 5.6% from a year ago. The consensus mark for RCM Technologies&#39; earnings has moved 7.5% north in the past 60 days.
Barrett Business Services&#39; earnings outpaced estimates in each of the trailing four quarters, the average surprise being 38.56%. The Zacks Consensus Estimate for BBSI&#39;s 2024 earnings indicates an improvement of 7.6% from the year-ago reported figure. The same for revenues implies growth of 7%. The consensus mark for Barrett Business Services&#39; earnings has moved 2.2% north in the past 60 days.
The bottom line of Envestnet outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 9.36%. The Zacks Consensus Estimate for ENV&#39;s 2024 earnings implies an improvement of 23.6% from the year-ago reported figure. The same for revenues indicates growth of 9.6% from a year ago. The consensus mark for Envestnet&#39;s earnings has moved 1.2% north in the past 60 days.
Shares of RCM Technologies, Barrett Business Services and Envestnet have risen 9.8%, 48.9% and 8%, respectively, in the past year.&nbsp;
<a href="https://www.zacks.com/stock/news/2288681/visa-v-enhances-savingsedge-for-small-business-cardholders?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2288681">To read this article on Zacks.com click here.</a>

Small Cap

Markets

Trading Ideas

BBSI

RCMT

Visa Enhances SavingsEdge for Small Business Cardholders

Fidelity And Envestnet Expand 20+ Year Partnership To Enhance Wealth And Advisory Solutions; Builds On Success Of Fidelity Managed Account Xchange; Collaboration Manages Over $500B

RB Global (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rba#NYSE">RBA</a>) shares ended the last trading session 8.9% higher at $79.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock&#39;s 5% loss over the past four weeks.
The fundamental driving factor can be attributed to the fact that RB Global joined the S&amp;P MidCap 400, which will be effective before trading opens on Jun 24. The company&#39;s competitive advantage lies in its global omnichannel platform, trusted customer relationships, and robust data analytics, enabling unparalleled flexibility, optimal price realization, and comprehensive value-added services for commercial assets and vehicles, which might have acted as tailwinds for it.
This heavy equipment auctioneer is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of +5.9%. Revenues are expected to be $1.14 billion, up 3.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RB Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock&#39;s price usually doesn&#39;t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RBA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy).
RB Global belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Envestnet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/env#NYSE">ENV</a>), closed the last trading session 3.1% lower at $62.26. Over the past month, ENV has returned -4.6%.
For Envestnet, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.63. This represents a change of +37% from what the company reported a year ago. Envestnet currently has a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2286802/strength-seen-in-rb-global-rba-can-its-8-9-jump-turn-into-more-strength?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2286802">To read this article on Zacks.com click here.</a>

Strength Seen in RB Global: Can Its 8.9% Jump Turn into More Strength?

WIIM

Envestnet shares are trading higher following a report suggesting the company is attracting interest from Advent and GTCR.

Software Firm Envestnet Reportedly Attracts Interest From Advent And GTCR

Partnership to Provide Seamless Financial Planning Experiences for Financial Services Customers in the United States
BERWYN, Pa., May 13, 2024 /PRNewswire/ -- Envestnet, a leading provider of integrated technology, intelligent data, and wealth solutions, and Salesforce, the global leader in CRM, today announced a partnership to deliver a connected and seamless financial planning experience for Envestnet customers using Salesforce's Financial Services Cloud (FSC).&nbsp;&nbsp;&nbsp;

Envestnet, Salesforce Partner To Deliver A Connected And Seamless Financial Planning Experience For Envestnet Customers Using Salesforce's Financial Services Cloud

RBC Capital analyst Daniel Perlin maintains Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) with a Sector Perform and raises the price target from $56 to $64.

RBC Capital Maintains Sector Perform on Envestnet, Raises Price Target to $64

Jefferies analyst Surinder Thind upgrades Envestnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENV#NYSE">ENV</a>) from Underperform to Hold and raises the price target from $47 to $59.

Upgrades

Jefferies Upgrades Envestnet to Hold, Raises Price Target to $59

Undercovered Dozen: KinderCare Learning, Xeris Biopharma, Generac, Philips +

Streamline Your Finances And Portfolio With OneStream

Why Private Equity Will Buyout Enfusion

Envestnet Non-GAAP EPS of $0.70 beats by $0.01, revenue of $345.9M misses by $2.47M

Envestnet (ENV) has disclosed a new risk, in the Share Price & Shareholder Rights category. The legal challenges facing Envestnet, stemming from th...

Legal Hurdles Threaten Envestnet's Merger and Financial Stability

In a report released today, Peter Heckmann from D.A. Davidson maintained a Hold rating on Envestnet (ENV – Research Report), with a price target of...

D.A. Davidson Remains a Hold on Envestnet (ENV)

Baird Q3 2024 Mid Cap Growth Equity Fund Commentary

Bain Capital is acquiring Envestnet (ENV) in a deal expected to be completed soon, pending final closing conditions. Published first on TheFly – th...

Azenta to replace Envestnet in S&P 600 at open on 11/25

Flex set to join S&P midcap 400; Azenta and Concentra Group to join S&P smallcap 600

An update from Envestnet ( ($ENV) ) is now available. Envestnet, a leading provider of integrated technology and wealth solutions, has been acquire...

Envestnet Acquired by Bain Capital, Goes Private

AEVA

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CHEF

CHRD

CLAR

ENFN

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FMCQF

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FSNUY

GNRC

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Press Releases

Envestnet Wins Five 2024 'Wealthies' Awards, Including Advisor Choice Award & Best Unified (All-in-One) System

Envestnet, Inc. Faces FinancialApps's $100 Million Trade Secret Misappropriation Claims in Delaware Jury Trial

Franklin Templeton Expands Partnership with Envestnet to Deliver Canvas Custom Indexing Platform

Fintech

ENVESTNET ACCELERATES PRODUCT ENHANCEMENTS AND BUILDS OUT DISTRIBUTION CAPABILITIES TO DRIVE ADVISOR GROWTH IN HIGH-NET-WORTH MARKET SEGMENT

Envestnet to Release Third Quarter 2024 Results on November 7, 2024

Masimo Appoints Timothy Scannell and Wendy Lane to Board of Directors

Envestnet Launches Customizable Options Strategy, Helping Investors Harvest the Volatility Risk Premium and Mitigate the Risk of Concentrated Stock Positions

Envestnet Reports Third Quarter 2024 Financial Results

Mutual Funds

Flex Set to Join S&P MidCap 400; Azenta and Concentra Group Holdings to Join S&P SmallCap 600

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ENVESTNET INC COM

Vendite allo scoperto

ENVESTNET INC COM (NYSE:ENV) Azioni, Report sulle vendite allo scoperto

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