Ellie Mae Inc (NASDAQ:ELLI) released its earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.13, Bloomberg Earnings reports. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company 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 earned $0.60 EPS. Ellie Mae’s quarterly revenue was up 6.6% compared to the same quarter last year. Ellie Mae updated its Q4 guidance to $0.19-0.29 EPS.
Shares of Ellie Mae (ELLI) traded up $0.06 during midday trading on Friday, reaching $86.90. 451,062 shares of the company’s stock were exchanged, compared to its average volume of 447,059. Ellie Mae has a twelve month low of $77.60 and a twelve month high of $114.95.
In other Ellie Mae news, Director A Barr Dolan sold 4,666 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $87.59, for a total transaction of $408,694.94. Following the completion of the transaction, the director now owns 9,053 shares of the company’s stock, valued at $792,952.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marina Levinson sold 2,861 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $82.39, for a total value of $235,717.79. Following the transaction, the director now directly owns 3,358 shares of the company’s stock, valued at approximately $276,665.62. The disclosure for this sale can be found here. Insiders sold 29,274 shares of company stock worth $2,541,795 in the last 90 days.
A number of analysts have commented on the stock. Royal Bank Of Canada upgraded shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $90.00 to $105.00 in a research note on Wednesday, October 18th. J P Morgan Chase & Co restated a “buy” rating on shares of Ellie Mae in a research note on Friday, September 1st. ValuEngine lowered 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. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target (down previously from $135.00) on shares of Ellie Mae in a research report on Sunday, July 30th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.71.
Ellie Mae declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 5th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 8.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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.
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