Ellie Mae (ELLI) PT Lowered to $109.00 at Royal Bank of Canada

Ellie Mae (NYSE:ELLI) had its price target cut by Royal Bank of Canada to $109.00 in a research note released on Friday, The Fly reports. They currently have an outperform rating on the software maker’s stock. The analysts noted that the move was a valuation call.

ELLI has been the topic of a number of other research reports. TheStreet downgraded Ellie Mae from a b- rating to a c+ rating in a report on Wednesday, September 26th. Zacks Investment Research downgraded Ellie Mae from a strong-buy rating to a hold rating in a report on Wednesday, June 27th. Needham & Company LLC restated a buy rating and set a $135.00 price target on shares of Ellie Mae in a report on Friday, July 27th. JMP Securities boosted their price target on Ellie Mae from $120.00 to $125.00 and gave the company a market outperform rating in a report on Friday, July 27th. Finally, KeyCorp restated a buy rating and set a $130.00 price target on shares of Ellie Mae in a report on Sunday, July 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $107.71.

Shares of NYSE:ELLI opened at $85.86 on Friday. Ellie Mae has a 1 year low of $82.03 and a 1 year high of $116.90. The stock has a market cap of $3.28 billion, a P/E ratio of 83.40, a price-to-earnings-growth ratio of 5.27 and a beta of 0.77.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, July 26th. The software maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Ellie Mae had a return on equity of 4.50% and a net margin of 7.81%. The company had revenue of $125.00 million for the quarter, compared to the consensus estimate of $123.79 million. During the same quarter in the previous year, the business earned $0.51 EPS. Ellie Mae’s revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts forecast that Ellie Mae will post 0.97 earnings per share for the current year.

In other Ellie Mae news, Director Sigmund Anderman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $103.09, for a total transaction of $1,546,350.00. Following the transaction, the director now owns 42,901 shares in the company, valued at approximately $4,422,664.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Corr sold 590 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $105.50, for a total value of $62,245.00. Following the transaction, the chief executive officer now owns 109,573 shares in the company, valued at approximately $11,559,951.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,264 shares of company stock worth $3,726,305 in the last quarter. Company insiders own 3.14% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its holdings in shares of Ellie Mae by 2.6% during the 2nd quarter. Northern Trust Corp now owns 478,488 shares of the software maker’s stock worth $49,687,000 after acquiring an additional 12,174 shares during the period. Global X Management Co LLC boosted its position in shares of Ellie Mae by 115.5% in the 2nd quarter. Global X Management Co LLC now owns 85,059 shares of the software maker’s stock worth $8,833,000 after purchasing an additional 45,587 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Ellie Mae by 6.4% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,567 shares of the software maker’s stock worth $1,616,000 after purchasing an additional 931 shares in the last quarter. Sylebra HK Co Ltd boosted its position in shares of Ellie Mae by 12.2% in the 2nd quarter. Sylebra HK Co Ltd now owns 1,256,481 shares of the software maker’s stock worth $130,473,000 after purchasing an additional 136,427 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Ellie Mae by 74.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the software maker’s stock worth $478,000 after purchasing an additional 1,957 shares in the last quarter.

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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