Barclays upgraded shares of Ellie Mae (NYSE:ELLI) from an equal weight rating to an overweight rating in a report issued on Tuesday morning, MarketBeat reports. Barclays currently has $114.00 price target on the software maker’s stock, up from their prior price target of $100.00.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Ellie Mae from a sell rating to a hold rating in a research report on Wednesday, October 18th. Royal Bank of Canada reiterated a hold rating and set a $90.00 price target on shares of Ellie Mae in a research report on Tuesday, October 10th. KeyCorp reiterated a buy rating and set a $116.00 price target on shares of Ellie Mae in a research report on Wednesday, October 4th. Needham & Company LLC reiterated a buy rating on shares of Ellie Mae in a research report on Sunday, October 29th. Finally, BidaskClub upgraded shares of Ellie Mae from a hold rating to a buy rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $108.50.
Ellie Mae (NYSE ELLI) traded up $1.28 during mid-day trading on Tuesday, hitting $96.38. 194,295 shares of the stock were exchanged, compared to its average volume of 366,688. Ellie Mae has a 52 week low of $79.71 and a 52 week high of $114.95. The firm has a market cap of $3,330.00, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 12.40 and a beta of 0.29.
Ellie Mae (NYSE:ELLI) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $105.62 million. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. analysts anticipate that Ellie Mae will post 0.9 earnings per share for the current year.
In other Ellie Mae news, CEO Jonathan Corr sold 2,211 shares of Ellie Mae stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $87.52, for a total value of $193,506.72. Following the completion of the sale, the chief executive officer now directly owns 116,002 shares of the company’s stock, valued at approximately $10,152,495.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Barr Dolan sold 4,666 shares of Ellie Mae stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $87.59, for a total transaction of $408,694.94. Following the completion of the sale, the director now directly owns 9,053 shares of the company’s stock, valued at $792,952.27. The disclosure for this sale can be found here. Insiders have sold a total of 76,870 shares of company stock valued at $6,903,140 over the last 90 days. Insiders own 3.39% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ELLI. Schwab Charles Investment Management Inc. grew its stake in Ellie Mae by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 143,960 shares of the software maker’s stock worth $15,823,000 after acquiring an additional 7,401 shares during the period. Legal & General Group Plc grew its stake in Ellie Mae by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 12,413 shares of the software maker’s stock worth $1,364,000 after acquiring an additional 1,166 shares during the period. BNP Paribas Arbitrage SA grew its stake in Ellie Mae by 525.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,288 shares of the software maker’s stock worth $471,000 after acquiring an additional 3,602 shares during the period. Marshall Wace North America L.P. purchased a new stake in Ellie Mae in the 2nd quarter worth approximately $307,000. Finally, Prudential Financial Inc. grew its stake in Ellie Mae by 3.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,590 shares of the software maker’s stock worth $395,000 after acquiring an additional 110 shares during the period.
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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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