Ellie Mae Inc (NASDAQ:ELLI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Monday. They presently have a $100.00 target price on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 16.43% from the stock’s current price.

A number of other brokerages have also issued reports on ELLI. Pacific Crest reaffirmed an “overweight” rating and issued a $130.00 price target (up from $110.00) on shares of Ellie Mae in a research note on Sunday, April 23rd. BidaskClub downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research downgraded Ellie Mae from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $115.00 price objective (up previously from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. Finally, Roth Capital downgraded Ellie Mae from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Ellie Mae has a consensus rating of “Hold” and a consensus target price of $116.54.

Shares of Ellie Mae (ELLI) traded up 2.27% during mid-day trading on Monday, hitting $85.89. The stock had a trading volume of 419,718 shares. The firm has a 50 day moving average of $102.73 and a 200-day moving average of $102.38. Ellie Mae has a one year low of $77.60 and a one year high of $114.95. The stock has a market cap of $2.95 billion and a P/E ratio of 56.96.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts expect that Ellie Mae will post $1.49 earnings per share for the current fiscal year.

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In other Ellie Mae news, CEO Jonathan Corr sold 2,211 shares of Ellie Mae stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.44, for a total value of $195,540.84. Following the sale, the chief executive officer now owns 114,902 shares in the company, valued at $10,161,932.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Blasing sold 414 shares of Ellie Mae stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $112.40, for a total value of $46,533.60. Following the completion of the sale, the director now owns 5,547 shares in the company, valued at approximately $623,482.80. The disclosure for this sale can be found here. Insiders sold 65,516 shares of company stock worth $7,083,087 in the last 90 days.

Large investors have recently bought and sold shares of the stock. Advisor Group Inc. increased its stake 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 stake 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 stake 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 stake 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 stake in Ellie Mae during the first quarter valued at about $214,000.

About Ellie Mae

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 (NASDAQ:ELLI)

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