Ellie Mae Inc (ELLI) Receives $107.21 Average PT from Brokerages

Shares of Ellie Mae Inc (NYSE:ELLI) have received an average rating of “Buy” from the nineteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $107.29.

A number of equities research analysts recently issued reports on the company. KeyCorp increased their price objective on Ellie Mae from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Oppenheimer reiterated a “buy” rating and issued a $110.00 price objective on shares of Ellie Mae in a research report on Thursday, February 1st. Zacks Investment Research upgraded Ellie Mae from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, February 9th. Stephens reiterated a “hold” rating and issued a $92.00 price objective on shares of Ellie Mae in a research report on Friday, February 9th. Finally, Barclays increased their price objective on Ellie Mae from $92.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th.

In related news, EVP Gates Cathleen Schreiner sold 13,000 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $95.56, for a total value of $1,242,280.00. Following the transaction, the executive vice president now owns 56,313 shares of the company’s stock, valued at $5,381,270.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen Blasing sold 1,728 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $100.00, for a total value of $172,800.00. Following the completion of the transaction, the director now directly owns 7,275 shares in the company, valued at approximately $727,500. The disclosure for this sale can be found here. In the last three months, insiders sold 52,253 shares of company stock worth $4,743,558. 3.39% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes 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 acquiring an additional 118 shares during the last quarter. Victory Capital Management Inc. bought a new position in Ellie Mae in the third quarter valued at $139,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ellie Mae by 45.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock valued at $174,000 after acquiring an additional 602 shares during the last quarter. Barings LLC bought a new position in Ellie Mae in the fourth quarter valued at $201,000. Finally, Stifel Financial Corp bought a new position in shares of Ellie Mae during the second quarter valued at about $270,000.

Ellie Mae (NYSE ELLI) traded up $1.08 during trading hours on Wednesday, hitting $90.79. The company’s stock had a trading volume of 477,412 shares, compared to its average volume of 435,053. The stock has a market capitalization of $3,140.00, a P/E ratio of 61.34, a P/E/G ratio of 7.63 and a beta of 0.57. Ellie Mae has a 12-month low of $79.71 and a 12-month high of $114.95.

Ellie Mae (NYSE:ELLI) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Ellie Mae had a return on equity of 5.43% and a net margin of 12.67%. The company had revenue of $112.89 million for the quarter, compared to the consensus estimate of $108.27 million. During the same quarter last year, the business posted $0.46 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. research analysts expect that Ellie Mae will post 0.78 earnings per share for the current year.

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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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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