Gates Cathleen Schreiner Sells 1,200 Shares of Ellie Mae Inc (ELLI) Stock
Ellie Mae Inc (NASDAQ:ELLI) EVP Gates Cathleen Schreiner sold 1,200 shares of Ellie Mae stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $84.58, for a total transaction of $101,496.00. Following the transaction, the executive vice president now directly owns 45,049 shares in the company, valued at $3,810,244.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ellie Mae Inc (NASDAQ ELLI) traded down 1.20% during midday trading on Friday, hitting $83.23. 333,514 shares of the stock were exchanged. The stock has a market cap of $2.86 billion and a price-to-earnings ratio of 55.19. The firm has a 50 day moving average of $89.34 and a 200-day moving average of $101.30. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.95.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current year.
Ellie Mae declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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ELLI has been the topic of a number of analyst reports. BidaskClub downgraded shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price (down from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Ellie Mae in a research note on Friday, September 1st. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Monday, July 3rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of Ellie Mae in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Ellie Mae presently has an average rating of “Hold” and a consensus price target of $116.54.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Ellie Mae by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock worth $200,000 after acquiring an additional 25 shares during the period. 1st Global Advisors Inc. lifted its holdings in shares of Ellie Mae by 0.7% during the 2nd quarter. 1st Global Advisors Inc. now owns 4,554 shares of the software maker’s stock worth $501,000 after acquiring an additional 30 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Ellie Mae by 1.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,691 shares of the software maker’s stock worth $296,000 after acquiring an additional 35 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Ellie Mae by 8.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock worth $135,000 after acquiring an additional 100 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Ellie Mae by 3.2% during the 2nd quarter. Prudential Financial Inc. now owns 3,590 shares of the software maker’s stock worth $395,000 after acquiring an additional 110 shares during the period.
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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