Ellie Mae Inc (ELLI) Receives Average Rating of “Hold” from Brokerages
Ellie Mae Inc (NASDAQ:ELLI) has earned a consensus rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $115.95.
Several equities analysts have recently issued reports on ELLI shares. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective on the stock in a report on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $115.00 target price (up previously from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price (down previously from $135.00) on shares of Ellie Mae in a research report on Sunday, July 30th. Bank of America Corporation initiated coverage on Ellie Mae in a research report on Monday, May 15th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of Ellie Mae in a research report on Wednesday, June 14th.
Shares of Ellie Mae (NASDAQ ELLI) traded up 0.27% during trading on Wednesday, reaching $81.51. 211,997 shares of the company were exchanged. The stock has a market capitalization of $2.80 billion and a PE ratio of 54.05. Ellie Mae has a one year low of $77.60 and a one year high of $114.95. The stock has a 50-day moving average price of $95.68 and a 200-day moving average price of $101.83.
Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The firm had revenue of $104.10 million for the quarter, compared to the consensus estimate of $110.69 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts forecast that Ellie Mae will post $1.49 EPS for the current year.
In related news, insider Sigmund Anderman sold 12,253 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $111.31, for a total value of $1,363,881.43. Following the completion of the transaction, the insider now directly owns 105,167 shares of the company’s stock, valued at approximately $11,706,138.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marina Levinson sold 2,861 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $82.39, for a total value of $235,717.79. Following the completion of the transaction, the director now directly owns 3,358 shares of the company’s stock, valued at $276,665.62. The disclosure for this sale can be found here. Insiders have sold a total of 57,167 shares of company stock worth $6,058,866 in the last quarter.
A number of hedge funds and other institutional investors have recently bought and sold shares of ELLI. Advisor Group Inc. increased its position in Ellie Mae by 13.2% in the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after buying an additional 118 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Ellie Mae by 8.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock valued at $135,000 after buying an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ellie Mae by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock valued at $147,000 after buying an additional 119 shares in the last quarter. Bank of Montreal Can increased its position in Ellie Mae by 1.4% in the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock valued at $200,000 after buying an additional 25 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Ellie Mae during the first quarter valued at approximately $214,000.
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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.
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