Ellie Mae Inc (ELLI) Given Average Rating of “Buy” by Brokerages

Ellie Mae Inc (NYSE:ELLI) has received an average rating of “Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $107.21.

Several analysts have recently issued reports on ELLI shares. Zacks Investment Research lowered Ellie Mae from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 1st. Royal Bank of Canada raised Ellie Mae from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $90.00 to $105.00 in a report on Wednesday, October 18th. BidaskClub raised Ellie Mae from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Barclays raised Ellie Mae from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $100.00 to $114.00 in a report on Tuesday, January 9th. Finally, Compass Point started coverage on Ellie Mae in a report on Wednesday, January 3rd. They set a “sell” rating and a $65.00 target price on the stock.

Shares of Ellie Mae (NYSE ELLI) opened at $88.86 on Wednesday. The stock has a market capitalization of $3,060.00, a price-to-earnings ratio of 60.04, a PEG ratio of 8.27 and a beta of 0.57. Ellie Mae has a 1-year low of $79.71 and a 1-year high of $114.95.

Ellie Mae (NYSE:ELLI) last released its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $112.89 million for the quarter, compared to analyst estimates of $108.27 million. Ellie Mae had a return on equity of 5.43% and a net margin of 12.67%. Ellie Mae’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. equities research analysts anticipate that Ellie Mae will post 0.73 EPS for the current year.

In related news, insider Sigmund Anderman sold 18,726 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $88.80, for a total value of $1,662,868.80. Following the sale, the insider now directly owns 81,087 shares of the company’s stock, valued at $7,200,525.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Corr sold 2,212 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $88.95, for a total value of $196,757.40. Following the completion of the sale, the chief executive officer now directly owns 114,633 shares in the company, valued at $10,196,605.35. The disclosure for this sale can be found here. Insiders sold 59,721 shares of company stock worth $5,402,858 over the last ninety days. 3.39% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new position in Ellie Mae in the fourth quarter valued at about $13,287,000. Geode Capital Management LLC raised its position in Ellie Mae by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 280,755 shares of the software maker’s stock valued at $25,099,000 after purchasing an additional 1,289 shares during the last quarter. Calamos Advisors LLC bought a new position in Ellie Mae in the fourth quarter valued at about $17,989,000. HMI Capital LLC bought a new position in Ellie Mae in the fourth quarter valued at about $21,009,000. Finally, Carillon Tower Advisers Inc. bought a new position in Ellie Mae in the fourth quarter valued at about $32,241,000.

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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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