Ellie Mae Inc (NASDAQ:ELLI) – Analysts at KeyCorp issued their Q1 2018 earnings estimates for Ellie Mae in a research note issued to investors on Tuesday. KeyCorp analyst B. Bracelin forecasts that the software maker will earn $0.14 per share for the quarter. KeyCorp has a “Buy” rating and a $116.00 price objective on the stock. KeyCorp also issued estimates for Ellie Mae’s Q3 2018 earnings at $0.38 EPS and Q4 2018 earnings at $0.24 EPS.

ELLI has been the subject of a number of other research reports. J P Morgan Chase & Co restated a “buy” rating on shares of Ellie Mae in a research note on Friday, September 1st. ValuEngine cut shares of Ellie Mae from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Ellie Mae from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price (down previously from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $101.00 target price on shares of Ellie Mae in a research note on Wednesday, September 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $112.95.

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Ellie Mae (ELLI) traded up 0.55% on Friday, hitting $83.90. 19,254 shares of the stock traded hands. Ellie Mae has a 52 week low of $77.60 and a 52 week high of $114.95. The stock has a market cap of $2.88 billion and a price-to-earnings ratio of 55.64. The firm’s 50 day moving average is $83.50 and its 200 day moving average is $99.42.

Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $110.69 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue was up 15.5% compared to the same quarter last year.

Ellie Mae declared that its board has approved a stock repurchase plan on Tuesday, September 5th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO Jonathan Corr sold 2,210 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $83.71, for a total transaction of $184,999.10. Following the transaction, the chief executive officer now directly owns 116,002 shares of the company’s stock, valued at $9,710,527.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sigmund Anderman sold 1,319 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $109.90, for a total transaction of $144,958.10. Following the transaction, the insider now directly owns 98,321 shares in the company, valued at $10,805,477.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,716 shares of company stock worth $1,670,159.

Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its holdings in Ellie Mae by 13.2% in the 2nd quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after buying an additional 118 shares during the period. Nisa Investment Advisors LLC increased its holdings in Ellie Mae by 8.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock valued at $135,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ellie Mae by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock valued at $147,000 after buying an additional 119 shares during the period. Bank of Montreal Can increased its holdings in Ellie Mae by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock valued at $200,000 after buying an additional 25 shares during the period. Finally, Jane Street Group LLC bought a new position in Ellie Mae in the 1st quarter valued at about $214,000.

About Ellie Mae

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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