Ellie Mae (NYSE:ELLI) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday. The brokerage presently has a $114.00 price target on the software maker’s stock, up from their previous price target of $100.00. Barclays’ target price would indicate a potential upside of 18.28% from the stock’s previous close.
ELLI has been the subject of a number of other reports. Royal Bank of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $90.00 to $105.00 in a research report on Wednesday, October 18th. KeyCorp reissued a “buy” rating and issued a $116.00 price objective on shares of Ellie Mae in a research report on Sunday, November 19th. 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. BidaskClub raised shares of Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Finally, Oppenheimer reissued a “buy” rating and issued a $101.00 price objective on shares of Ellie Mae in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $108.50.
Ellie Mae (NYSE:ELLI) traded up $1.28 during trading hours on Tuesday, reaching $96.38. 194,295 shares of the company’s stock were exchanged, compared to its average volume of 366,688. The stock has a market cap of $3,330.00, a PE ratio of 63.83, a P/E/G ratio of 12.40 and a beta of 0.29. Ellie Mae has a one year low of $79.71 and a one year high of $114.95.
Ellie Mae (NYSE:ELLI) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $105.62 million. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. analysts forecast that Ellie Mae will post 0.9 EPS for the current year.
In other Ellie Mae news, Director A Barr Dolan sold 4,666 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $87.59, for a total value of $408,694.94. Following the transaction, the director now owns 9,053 shares of the company’s stock, valued at $792,952.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sigmund Anderman sold 12,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the completion of the transaction, the insider now directly owns 98,321 shares in the company, valued at approximately $8,774,166.04. The disclosure for this sale can be found here. Insiders have sold 76,870 shares of company stock worth $6,903,140 in the last ninety days. Corporate insiders own 3.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ELLI. Advisor Group Inc. lifted its holdings in Ellie Mae by 13.2% in the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock worth $112,000 after acquiring an additional 118 shares during the last quarter. Victory Capital Management Inc. bought a new position in Ellie Mae in the third quarter worth about $139,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 worth $147,000 after acquiring an additional 119 shares during the last quarter. Stifel Financial Corp bought a new position in Ellie Mae in the second quarter worth about $270,000. Finally, Marshall Wace North America L.P. bought a new position in Ellie Mae in the second quarter worth about $307,000.
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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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