Zacks Investment Research upgraded shares of Ellie Mae (NYSE:ELLI) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $98.00 target price on the software maker’s stock.
According to Zacks, “Ellie Mae, Inc. operates electronic mortgage origination networks in the United States. The Company’s network and technology-enabled solutions help streamline and automate the mortgage origination process. Solutions offered by Ellie include Encompass software, a comprehensive operating system that handles key business and management functions involved in running a mortgage origination business, and serves as a gateway to the Ellie Mae Network. Through its solutions the Company also offers services like: automated preparation of the disclosure and closing documents; electronic document management and websites and electronic connectivity. Ellie Mae, Inc. is headquartered in Pleasanton, California. “
Several other equities research analysts have also commented on the stock. Barclays lifted their price target on shares of Ellie Mae from $92.00 to $100.00 and gave the stock an equal weight rating in a research note on Friday, October 27th. Royal Bank of Canada upgraded shares of Ellie Mae from a sector perform rating to an outperform rating and lifted their price target for the stock from $90.00 to $105.00 in a research note on Wednesday, October 18th. KeyCorp reiterated a buy rating and set a $116.00 price target on shares of Ellie Mae in a research note on Sunday, November 19th. Needham & Company LLC reiterated a buy rating on shares of Ellie Mae in a research note on Sunday, October 29th. Finally, BidaskClub upgraded shares of Ellie Mae from a hold rating to a buy rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $105.89.
Shares of Ellie Mae (NYSE:ELLI) opened at $90.53 on Friday. Ellie Mae has a one year low of $79.71 and a one year high of $114.95. The company has a market cap of $3,098.63, a price-to-earnings ratio of 83.06, a P/E/G ratio of 8.27 and a beta of 0.57.
Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. The firm had revenue of $112.89 million for the quarter, compared to analyst estimates of $108.27 million. During the same period last year, the business earned $0.46 EPS. Ellie Mae’s revenue for the quarter was up 17.3% compared to the same quarter last year. research analysts expect that Ellie Mae will post 0.73 EPS for the current year.
In other news, Director Karen Blasing sold 1,728 shares of Ellie Mae stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $100.00, for a total value of $172,800.00. Following the sale, the director now owns 7,275 shares of the company’s stock, valued at $727,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sigmund Anderman sold 18,726 shares of Ellie Mae stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $88.80, for a total transaction of $1,662,868.80. Following the completion of the sale, the insider now directly owns 81,087 shares in the company, valued at approximately $7,200,525.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,721 shares of company stock worth $5,402,858. 3.39% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of 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 acquiring an additional 118 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ellie Mae in the third quarter valued at about $139,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ellie Mae by 45.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock valued at $174,000 after acquiring an additional 602 shares in the last quarter. Barings LLC purchased a new stake in shares of Ellie Mae in the fourth quarter valued at about $201,000. Finally, Stifel Financial Corp purchased a new stake in shares of Ellie Mae in the second quarter valued at about $270,000.
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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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