Roth Capital upgraded shares of Ellie Mae (NYSE:ELLI) from a neutral rating to a buy rating in a research note published on Wednesday morning, MarketBeat.com reports. Roth Capital currently has $100.00 target price on the software maker’s stock.
Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Ellie Mae from an overweight rating to a neutral rating and raised their price target for the stock from $112.00 to $118.00 in a research report on Thursday, June 21st. They noted that the move was a valuation call. KeyCorp raised their price target on Ellie Mae from $130.00 to $135.00 and gave the stock an overweight rating in a research report on Friday, July 27th. Morgan Stanley raised their price target on Ellie Mae from $109.00 to $118.00 and gave the stock an equal weight rating in a research report on Friday, July 27th. Royal Bank of Canada raised their price target on Ellie Mae to $125.00 and gave the stock an outperform rating in a research report on Monday, June 18th. Finally, ValuEngine upgraded Ellie Mae from a hold rating to a buy rating in a research report on Friday, July 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Ellie Mae presently has an average rating of Hold and a consensus price target of $107.71.
ELLI traded up $2.39 during mid-day trading on Wednesday, reaching $85.74. The stock had a trading volume of 1,099,459 shares, compared to its average volume of 495,404. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 83.24, a PEG ratio of 5.27 and a beta of 0.77. Ellie Mae has a 52 week low of $82.03 and a 52 week high of $116.90.
Ellie Mae (NYSE:ELLI) last announced its quarterly earnings data on Thursday, July 26th. The software maker reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.13. The firm had revenue of $125.00 million for the quarter, compared to analyst estimates of $123.79 million. Ellie Mae had a return on equity of 4.50% and a net margin of 7.81%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, equities analysts forecast that Ellie Mae will post 0.97 earnings per share for the current fiscal year.
In related news, Director Sigmund Anderman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $101.97, for a total transaction of $1,529,550.00. Following the sale, the director now owns 42,901 shares of the company’s stock, valued at approximately $4,374,614.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Corr sold 589 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $101.07, for a total value of $59,530.23. Following the sale, the chief executive officer now directly owns 109,572 shares in the company, valued at approximately $11,074,442.04. The disclosure for this sale can be found here. Insiders have sold a total of 35,675 shares of company stock worth $3,664,772 in the last ninety days. 3.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of ELLI. Summit Creek Advisors LLC raised its stake in shares of Ellie Mae by 55.6% in the 3rd quarter. Summit Creek Advisors LLC now owns 82,414 shares of the software maker’s stock valued at $7,810,000 after purchasing an additional 29,450 shares during the period. Northern Trust Corp increased its position in shares of Ellie Mae by 2.6% in the second quarter. Northern Trust Corp now owns 478,488 shares of the software maker’s stock valued at $49,687,000 after acquiring an additional 12,174 shares during the last quarter. Global X Management Co LLC increased its position in shares of Ellie Mae by 115.5% in the second quarter. Global X Management Co LLC now owns 85,059 shares of the software maker’s stock valued at $8,833,000 after acquiring an additional 45,587 shares during the last quarter. MetLife Investment Advisors LLC increased its position in shares of Ellie Mae by 6.4% in the second quarter. MetLife Investment Advisors LLC now owns 15,567 shares of the software maker’s stock valued at $1,616,000 after acquiring an additional 931 shares during the last quarter. Finally, Sylebra HK Co Ltd increased its position in shares of Ellie Mae by 12.2% in the second quarter. Sylebra HK Co Ltd now owns 1,256,481 shares of the software maker’s stock valued at $130,473,000 after acquiring an additional 136,427 shares during the last quarter.
Ellie Mae Company Profile
Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.
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