The firm faced a board challenge from an activist investor pushing it to cut costs last year, and it began a leadership transition when then-CEO Bill Crager said in January that he would step down from that role in April. For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter. Wealth technology platform Envestnet plans to go private in a deal with Bain Capital. The company entered into a definitive agreement to be acquired by Bain Capital in a transaction that values Envestnet at $4.5 billion, t ...

NEW YORK, July 11, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Envestnet, Inc. (NYSE: ENV) and its board of directors concerning the proposed acquisition of the company by Bain Capital. Stockholders will receive $63.15 for each share of Envestnet stock that they hold. The transaction is valued at approximately $4.5 billion and is expected to close in the fourth quarter of 2024. If you are a stockholder of Envestnet, Inc. and are interested in obtaining additi ...

NEW YORK, July 11, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Envestnet, Inc. (NYSE: ENV), relating to its proposed merger with Bain Capital Private Equity, LP. Under the terms of the agreement, Envestnet shareholders will receive $63.15 per share of En ...

BERWYN, Pa., July 11, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) ("the Company" or "Envestnet"), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that it has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion ($63.15 per share). Reverence Capital also agreed to participate in the transaction. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Glo ...

Opportunities Include Offering Holistic Advice, A Fee-Based Future, All-In-One WealthTech, And Tackling The Organic Growth Imperative BERWYN, Pa., July 10, 2024 /PRNewswire/ -- Envestnet (NYSE: ENV), a leading provider of integrated technology, data intelligence, and wealth solutions, has released its 2024 Advisor Perspectives Survey, examining the current state of financial advisory practices and anticipated industry trends. Envestnet leverages its unique vantage point to conduct the annual survey, gatheri ...

Bain Capital is reportedly close to acquiring financial software provider Envestnet. If a deal is reached, it could be announced this week, Reuters reported Monday (July 8), citing unnamed sources. Envestnet's software is used by more than 108,000 financial advisors, 16 of the top 20 banks in the United States, and many wealth management and brokerage firms, according to the report. It's also in the midst of a leadership transition, as CEO Bill Crager said in January that he would step down from that role a ...

A higher Internet penetration rate and increased usage of smartphones contribute to the increased uptake of digital payments. In light of the prevailing scenario, it has become inevitable to build an enhanced contactless payments suite or upgrade the existing ones. The Zacks-defined Financial – Financial Transaction Services Industry is currently in the top 18% of the Zacks Industry Rank. In the past year, the industry has provided 15.5% returns, while its year-to-date return is 2.5%. Since it is ranked in ...

What's Behind the Rally Envestnet, Inc.'s (ENV) shares have gained an impressive 30.8% year to date, significantly outperforming the 3.6% rally of the industry it belongs to and the 12.5% rise of the Zacks S&P 500 composite. ENV put on an impressive earnings performance in the past four quarters. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, delivering an average surprise of 9.4%. Envestnet remains focused on increasing its share of the addressa ...

Envestnet, Inc. reported impressive first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. ENV's earnings per share (EPS) were 60 cents, surpassing the consensus estimate by 11.1%. The bottom line increased 30.4% from the year-ago quarter. Total revenues of $325 million beat the consensus estimate by a slight margin and improved 8.7% on a year-over-year basis. A month has gone by since the last earnings report for Envestnet (ENV) . Shares have added about 2.2% in that t ...

"Many financial advisors see the value in technology and customized solutions that can save time and allow for improved client engagement, while also supporting an increasingly more holistic approach to wealth management and financial planning," said Allison Bonds Mazza, Head of Intermediary for State Street Global Advisors. "Through our partnership with Envestnet, State Street Global Advisors can continue to drive our mission forward to create better outcomes for investors and the people they serve, by lev ...