Shares of Ellie Mae, Inc. (NYSE:ELLI) have been assigned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $112.85.
Several analysts have recently commented on the stock. Royal Bank Of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $90.00 to $105.00 in a research report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and set a $116.00 price objective on shares of Ellie Mae in a research report on Sunday, November 19th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Ellie Mae in a research report on Friday, September 1st. Zacks Investment Research raised shares of Ellie Mae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, BidaskClub raised shares of Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th.
Ellie Mae (ELLI) traded down $1.10 during trading on Friday, reaching $87.05. 422,073 shares of the company’s stock traded hands, compared to its average volume of 434,803. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95. The company has a market cap of $3,044.37, a price-to-earnings ratio of 69.96, a price-to-earnings-growth ratio of 7.41 and a beta of 0.28.
Ellie Mae (NYSE:ELLI) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.13. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The firm had revenue of $107.00 million during the quarter, compared to analyst estimates of $105.62 million. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. analysts predict that Ellie Mae will post 0.9 earnings per share for the current fiscal year.
In related news, insider Sigmund Anderman sold 12,000 shares of Ellie Mae stock in a transaction on Friday, October 20th. The shares were sold at an average price of $89.24, for a total value of $1,070,880.00. Following the completion of the sale, the insider now owns 98,321 shares of the company’s stock, valued at approximately $8,774,166.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gates Cathleen Schreiner sold 1,200 shares of Ellie Mae stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total transaction of $101,496.00. Following the completion of the sale, the executive vice president now directly owns 45,049 shares of the company’s stock, valued at approximately $3,810,244.42. The disclosure for this sale can be found here. In the last three months, insiders sold 41,018 shares of company stock valued at $3,594,480. 3.39% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Ellie Mae by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,637,165 shares of the software maker’s stock worth $289,851,000 after acquiring an additional 49,323 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Ellie Mae by 10.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock worth $115,065,000 after acquiring an additional 100,103 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Ellie Mae by 51.5% during the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock worth $67,207,000 after acquiring an additional 278,321 shares during the last quarter. FMR LLC boosted its holdings in Ellie Mae by 1.2% during the 2nd quarter. FMR LLC now owns 727,992 shares of the software maker’s stock worth $80,014,000 after acquiring an additional 8,843 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in Ellie Mae by 5.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 678,721 shares of the software maker’s stock worth $55,743,000 after acquiring an additional 33,828 shares during the last quarter.
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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.
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