Equities research analysts at Compass Point started coverage on shares of Ellie Mae (NYSE:ELLI) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a “sell” rating and a $65.00 price target on the software maker’s stock. Compass Point’s target price would suggest a potential downside of 28.23% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Ellie Mae from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays lifted their price objective on shares of Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Royal Bank of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $90.00 to $105.00 in a research report on Wednesday, October 18th. KeyCorp reissued a “buy” rating and issued a $116.00 price objective on shares of Ellie Mae in a research report on Sunday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Ellie Mae in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Ellie Mae has an average rating of “Buy” and a consensus target price of $107.42.
Shares of Ellie Mae (ELLI) traded up $1.17 during mid-day trading on Wednesday, reaching $90.57. 301,200 shares of the company’s stock traded hands, compared to its average volume of 305,750. Ellie Mae has a 12-month low of $79.71 and a 12-month high of $114.95. The firm has a market cap of $3,050.00, a price-to-earnings ratio of 59.98, a P/E/G ratio of 11.66 and a beta of 0.29.
Ellie Mae (NYSE:ELLI) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.13. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The firm had revenue of $107.00 million for the quarter, compared to analyst estimates of $105.62 million. During the same period in the previous year, the business earned $0.60 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. equities research analysts predict that Ellie Mae will post 0.9 earnings per share for the current year.
In related news, CEO Jonathan Corr sold 2,211 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $83.76, for a total transaction of $185,193.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sigmund Anderman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the transaction, the insider now owns 98,321 shares of the company’s stock, valued at $8,774,166.04. The disclosure for this sale can be found here. Insiders sold a total of 46,224 shares of company stock valued at $4,077,436 over the last 90 days. Corporate insiders own 3.39% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ELLI. Advisor Group Inc. increased its position in Ellie Mae by 13.2% during the 2nd quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock worth $112,000 after purchasing an additional 118 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ellie Mae during the 3rd quarter worth approximately $139,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ellie Mae by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock worth $147,000 after acquiring an additional 119 shares during the last quarter. Stifel Financial Corp bought a new stake in Ellie Mae during the 2nd quarter worth approximately $270,000. Finally, Marshall Wace North America L.P. bought a new stake in Ellie Mae during the 2nd quarter worth approximately $307,000.
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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.