Ellie Mae’s (NYSE:ELLI) “Buy” Rating Reiterated at KeyCorp

KeyCorp reaffirmed their buy rating on shares of Ellie Mae (NYSE:ELLI) in a research report released on Sunday, November 19th. KeyCorp currently has a $116.00 price objective on the software maker’s stock.

A number of other research analysts have also recently issued reports on ELLI. Zacks Investment Research cut shares of Ellie Mae from a strong-buy rating to a hold rating in a research note on Wednesday, November 1st. Barclays boosted their price objective on shares of Ellie Mae from $92.00 to $100.00 and gave the stock an equal weight rating in a research report on Friday, October 27th. J P Morgan Chase & Co reiterated a buy rating on shares of Ellie Mae in a research report on Friday, September 1st. Royal Bank Of Canada raised 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 report on Wednesday, October 18th. Finally, ValuEngine raised shares of Ellie Mae from a sell rating to a hold rating in a research note on Friday, September 1st. Seven 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.

Shares of Ellie Mae (ELLI) traded up $2.14 during trading on Friday, hitting $88.50. The stock had a trading volume of 450,042 shares, compared to its average volume of 434,745. Ellie Mae has a 1-year low of $79.71 and a 1-year high of $114.95. The firm has a market capitalization of $3,006.38, a PE ratio of 69.09, a PEG ratio of 7.31 and a beta of 0.28.

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

In related news, CEO Jonathan Corr sold 2,210 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $83.71, for a total transaction of $184,999.10. Following the sale, the chief executive officer now owns 116,002 shares in the company, valued at approximately $9,710,527.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sigmund Anderman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the completion of the sale, the insider now owns 98,321 shares in the company, valued at approximately $8,774,166.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,818 shares of company stock worth $3,492,984. Company insiders own 3.39% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its stake in Ellie Mae by 13.2% in the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after purchasing an additional 118 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Ellie Mae by 8.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock valued at $135,000 after purchasing an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ellie Mae by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock valued at $147,000 after purchasing an additional 119 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ellie Mae in the third quarter valued at $139,000. Finally, Bank of Montreal Can increased its stake in Ellie Mae by 1.4% in the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock valued at $200,000 after purchasing an additional 25 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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