Cubist Systematic Strategies LLC Has $478,000 Position in Ellie Mae Inc (ELLI)
Cubist Systematic Strategies LLC increased its stake in Ellie Mae Inc (NYSE:ELLI) by 74.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the software maker’s stock after purchasing an additional 1,957 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Ellie Mae were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of ELLI. Contour Asset Management LLC purchased a new position in Ellie Mae in the 1st quarter worth about $67,176,000. Jericho Capital Asset Management L.P. grew its stake in Ellie Mae by 83.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 725,338 shares of the software maker’s stock valued at $66,688,000 after acquiring an additional 330,338 shares in the last quarter. Meritage Group LP grew its stake in Ellie Mae by 27.4% during the 2nd quarter. Meritage Group LP now owns 1,116,510 shares of the software maker’s stock valued at $115,938,000 after acquiring an additional 240,016 shares in the last quarter. HMI Capital LLC grew its stake in Ellie Mae by 96.7% during the 1st quarter. HMI Capital LLC now owns 462,221 shares of the software maker’s stock valued at $42,497,000 after acquiring an additional 227,221 shares in the last quarter. Finally, RGM Capital LLC grew its stake in Ellie Mae by 1,751.5% during the 2nd quarter. RGM Capital LLC now owns 231,512 shares of the software maker’s stock valued at $24,040,000 after acquiring an additional 219,008 shares in the last quarter.
ELLI has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Ellie Mae in a research note on Friday, July 27th. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of Ellie Mae in a research note on Sunday, July 22nd. ValuEngine raised Ellie Mae from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Morgan Stanley lifted their target price on Ellie Mae from $109.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Finally, Zacks Investment Research cut Ellie Mae from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $108.86.
NYSE:ELLI opened at $94.73 on Friday. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 91.97, a price-to-earnings-growth ratio of 5.24 and a beta of 0.78. Ellie Mae Inc has a fifty-two week low of $80.71 and a fifty-two week high of $116.90.
Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, July 26th. The software maker reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.13. The business had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $123.79 million. Ellie Mae had a return on equity of 4.50% and a net margin of 7.81%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. equities research analysts forecast that Ellie Mae Inc will post 0.97 earnings per share for the current year.
Ellie Mae Company Profile
Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.
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