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Envestnet Inc ENV

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Stock XNYS Rating as of
$62.00 +0.13 (0.21%)
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As of Delayed Price Closed
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Company Report

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Envestnet: Private Equity Firm Bain Capital Agrees to Acquire Envestnet

Rajiv Bhatia

Today, Envestnet announced that it has agreed to be acquired by Bain Capital at a share price of $63.15, a 2.4% premium to the close price on July 10 and an 11.7% premium to the close price on April 15. This is right before media reports indicated that Envestnet was exploring a sale. The deal does not surprise us, as Envestnet has been no stranger to takeover interest over the past five years. We intend to raise our fair value estimate to $63 from $57 as we do not see many hurdles for the deal to be completed, which is expected to close in the fourth quarter of 2024.

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Price vs Fair Value

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ENV is trading within a range we consider fairly valued.
Price
$62.00
Fair Value
$62.00
Uncertainty
High
1-Star Price
$37.59
5-Star Price
$22.90
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Activist investors could successfully pressure Envestnet to substantially increase its operating margins. If that fails, Envestnet's recurring revenue business model could be attractive to strategic and financial acquirers.

Bears

Envestnet’s data and analytics segment faces strong competition from other data aggregators such as Plaid and other alternative data providers.

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Trading Information

Previous Close Price
$61.87
Day Range
$61.88–62.00
52-Week Range
$33.12–73.04
Bid/Ask
$61.47 / $62.52
Market Cap
$3.42 Bil
Volume/Avg
769,602 / 880,077

Key Statistics

Price/Earnings (Normalized)
32.12
Price/Sales
2.67
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

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.
Sector
Technology
Industry
Software - Application
Stock Style Box
Small Core
Total Number of Employees
3,100
Website
https://www.envestnet.com

Competitors

Valuation

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Metric
ENV
SEIC
BR
Price/Earnings (Normalized)
 32.1217.2128.50
Price/Book Value
 5.883.8611.06
Price/Sales
 2.674.453.96
Price/Cash Flow
 16.5115.3222.18
Price/Earnings
ENV
SEIC
BR

Financial Strength

Metric
ENV
SEIC
BR
Quick Ratio
 0.816.061.25
Current Ratio
 1.196.321.39
Interest Coverage
 −11.711,046.726.68
Quick Ratio
ENV
SEIC
BR

Profitability

Metric
ENV
SEIC
BR
Return on Assets (Normalized)
 7.56%21.64%10.84%
Return on Equity (Normalized)
 22.37%24.85%41.54%
Return on Invested Capital (Normalized)
 9.74%22.96%16.56%
Return on Assets
ENV
SEIC
BR
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