Ellie Mae’s (ELLI) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Ellie Mae (NYSE:ELLI)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued on Wednesday. They currently have a $106.00 target price on the software maker’s stock. Royal Bank of Canada’s target price suggests a potential upside of 19.18% from the stock’s previous close.

A number of other research firms also recently issued reports on ELLI. Morgan Stanley boosted their price objective on shares of Ellie Mae from $101.00 to $109.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Oppenheimer reissued a “buy” rating and issued a $110.00 price objective on shares of Ellie Mae in a report on Thursday, February 1st. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, December 27th. Barclays boosted their price objective on shares of Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Finally, KeyCorp boosted their price objective on shares of Ellie Mae from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $106.11.

Ellie Mae (NYSE:ELLI) traded up $0.08 during midday trading on Wednesday, reaching $88.94. 492,414 shares of the company’s stock were exchanged, compared to its average volume of 440,046. The company has a market cap of $2,960.69, a P/E ratio of 60.09, a P/E/G ratio of 7.12 and a beta of 0.57. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95.

Ellie Mae (NYSE:ELLI) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $112.89 million during the quarter, compared to the consensus estimate of $108.27 million. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. equities research analysts forecast that Ellie Mae will post 0.81 earnings per share for the current year.

In other news, EVP Joseph P. Tyrrell sold 8,600 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $88.10, for a total value of $757,660.00. Following the completion of the transaction, the executive vice president now directly owns 39,783 shares in the company, valued at approximately $3,504,882.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gates Cathleen Schreiner sold 1,900 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $86.01, for a total transaction of $163,419.00. Following the completion of the transaction, the executive vice president now owns 43,149 shares of the company’s stock, valued at $3,711,245.49. The disclosure for this sale can be found here. Insiders sold a total of 59,721 shares of company stock valued at $5,402,858 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 the stock. 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. Ameritas Investment Partners Inc. increased its position in Ellie Mae by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the software maker’s stock worth $327,000 after purchasing an additional 141 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ellie Mae by 45.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock worth $174,000 after purchasing an additional 602 shares in the last quarter. Rhumbline Advisers increased its position in Ellie Mae by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 41,615 shares of the software maker’s stock worth $3,418,000 after purchasing an additional 607 shares in the last quarter. Finally, Natixis Asset Management increased its position in Ellie Mae by 1.4% during the 4th quarter. Natixis Asset Management now owns 50,934 shares of the software maker’s stock worth $4,555,000 after purchasing an additional 715 shares in the last quarter.

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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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