Ellie Mae (NYSE:ELLI) had its target price trimmed by Bank of America from $115.00 to $110.00 in a research note released on Friday morning. The firm currently has a buy rating on the software maker’s stock.

A number of other analysts also recently commented on the stock. KeyCorp increased their price objective on shares of Ellie Mae from $116.00 to $118.00 and gave the company an overweight rating in a report on Monday, February 5th. Oppenheimer reiterated a buy rating and issued a $110.00 price objective on shares of Ellie Mae in a report on Thursday, February 1st. Morgan Stanley increased their price objective on shares of Ellie Mae from $101.00 to $109.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Barclays upgraded shares of Ellie Mae from an equal weight rating to an overweight rating and increased their price objective for the company from $100.00 to $114.00 in a report on Tuesday, January 9th. Finally, Compass Point began coverage on shares of Ellie Mae in a report on Wednesday, January 3rd. They issued a sell rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $105.89.

Ellie Mae (NYSE:ELLI) opened at $90.53 on Friday. Ellie Mae has a 1 year low of $79.71 and a 1 year high of $114.95. The firm has a market cap of $3,098.63, a PE ratio of 83.06, a P/E/G ratio of 8.27 and a beta of 0.57.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. The firm had revenue of $112.89 million during the quarter, compared to the consensus estimate of $108.27 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. research analysts forecast that Ellie Mae will post 0.73 earnings per share for the current year.

In other news, CEO Jonathan Corr sold 1,131 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.50, for a total value of $105,748.50. Following the completion of the sale, the chief executive officer now owns 114,922 shares of the company’s stock, valued at approximately $10,745,207. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Sigmund Anderman sold 7,920 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $87.38, for a total transaction of $692,049.60. Following the completion of the sale, the chairman now directly owns 98,321 shares of the company’s stock, valued at approximately $8,591,288.98. The disclosure for this sale can be found here. In the last three months, insiders sold 59,721 shares of company stock valued at $5,402,858. Corporate insiders own 3.39% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. boosted its position in shares of Ellie Mae by 13.2% during the 2nd quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock worth $112,000 after purchasing an additional 118 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Ellie Mae during the 3rd quarter worth approximately $139,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ellie Mae by 45.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock worth $174,000 after purchasing an additional 602 shares during the period. Barings LLC purchased a new position in shares of Ellie Mae during the 4th quarter worth approximately $201,000. Finally, Atria Investments LLC purchased a new position in shares of Ellie Mae during the 4th quarter worth approximately $261,000.

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Ellie Mae Company Profile

Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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