Ellie Mae, Inc. (ELLI) Receives Average Rating of “Buy” from Brokerages

Ellie Mae, Inc. (NYSE:ELLI) has earned an average rating of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $112.85.

A number of research firms have issued reports on ELLI. KeyCorp reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Ellie Mae in a research note on Sunday, November 19th. Zacks Investment Research downgraded Ellie Mae from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Needham & Company LLC reaffirmed a “buy” rating on shares of Ellie Mae in a research note on Sunday, October 29th. Barclays lifted their price objective on Ellie Mae from $92.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, Royal Bank Of Canada raised Ellie Mae from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $90.00 to $105.00 in a research note on Wednesday, October 18th.

In related news, EVP Gates Cathleen Schreiner sold 1,200 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $84.58, for a total transaction of $101,496.00. Following the completion of the transaction, the executive vice president now owns 45,049 shares in the company, valued at approximately $3,810,244.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sigmund Anderman sold 12,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $89.24, for a total value of $1,070,880.00. Following the transaction, the insider now owns 98,321 shares of the company’s stock, valued at approximately $8,774,166.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,018 shares of company stock worth $3,594,480. Corporate insiders own 3.39% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Ellie Mae by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,637,165 shares of the software maker’s stock worth $289,851,000 after buying an additional 49,323 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Ellie Mae by 10.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock worth $115,065,000 after buying an additional 100,103 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Ellie Mae by 51.5% in the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock worth $67,207,000 after buying an additional 278,321 shares during the period. FMR LLC lifted its holdings in shares of Ellie Mae by 1.2% in the 2nd quarter. FMR LLC now owns 727,992 shares of the software maker’s stock worth $80,014,000 after buying an additional 8,843 shares during the period. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of Ellie Mae by 5.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 678,721 shares of the software maker’s stock worth $55,743,000 after buying an additional 33,828 shares during the period.

Shares of Ellie Mae (ELLI) opened at $88.39 on Friday. Ellie Mae has a 12 month low of $77.60 and a 12 month high of $114.95. The stock has a market capitalization of $3,029.86, a P/E ratio of 69.63, a price-to-earnings-growth ratio of 7.37 and a beta of 0.30.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.13. Ellie Mae had a return on equity of 6.39% and a net margin of 13.45%. The business had revenue of $107.00 million for the quarter, compared to the consensus estimate of $105.62 million. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. equities analysts predict that Ellie Mae will post 0.9 earnings per share for the current year.

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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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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