A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Ellie Mae from a hold rating to a sell rating in a research report on Monday, April 16th. Bank of America cut shares of Ellie Mae from a buy rating to a neutral rating and set a $110.00 price objective for the company. in a research report on Monday, April 16th. Wedbush cut shares of Ellie Mae from a neutral rating to an underperform rating and upped their price objective for the company from $90.00 to $109.00 in a research report on Thursday, April 12th. KeyCorp restated a buy rating and issued a $120.00 price objective on shares of Ellie Mae in a research report on Wednesday, March 21st. Finally, Royal Bank of Canada restated an outperform rating and issued a $106.00 price objective on shares of Ellie Mae in a research report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $105.25.
Shares of Ellie Mae stock traded down $0.95 on Friday, hitting $89.65. 541,847 shares of the company’s stock traded hands, compared to its average volume of 556,236. The stock has a market capitalization of $3,106.66, a price-to-earnings ratio of 87.04, a PEG ratio of 7.82 and a beta of 0.53. Ellie Mae has a one year low of $79.71 and a one year high of $114.95.
Ellie Mae (NYSE:ELLI) last issued its earnings results on Thursday, February 8th. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. Ellie Mae had a net margin of 12.67% and a return on equity of 5.39%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. research analysts forecast that Ellie Mae will post 0.77 earnings per share for the current fiscal year.
In other Ellie Mae news, Director Karen Blasing sold 1,728 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $100.00, for a total transaction of $172,800.00. Following the completion of the transaction, the director now owns 7,275 shares in the company, valued at approximately $727,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Corr sold 589 shares of the stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $94.34, for a total value of $55,566.26. Following the transaction, the chief executive officer now owns 109,572 shares of the company’s stock, valued at approximately $10,337,022.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,727 shares of company stock valued at $5,367,643. Corporate insiders own 3.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ellie Mae by 45.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock worth $174,000 after purchasing an additional 602 shares in the last quarter. Barings LLC acquired a new position in shares of Ellie Mae during the 4th quarter worth about $201,000. Atria Investments LLC acquired a new position in shares of Ellie Mae during the 4th quarter worth about $261,000. Stifel Financial Corp boosted its stake in shares of Ellie Mae by 42.5% during the 3rd quarter. Stifel Financial Corp now owns 3,502 shares of the software maker’s stock worth $288,000 after buying an additional 1,044 shares during the last quarter. Finally, Jefferies Group LLC acquired a new position in shares of Ellie Mae during the 4th quarter worth about $292,000.
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About Ellie Mae
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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