Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Ellie Mae, Inc. (NYSE:ELLI) by 22.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,365 shares of the software maker’s stock after acquiring an additional 93,101 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 1.49% of Ellie Mae worth $42,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in shares of Ellie Mae by 51.5% in the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock valued at $67,207,000 after buying an additional 278,321 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Ellie Mae by 10.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock valued at $115,065,000 after buying an additional 100,103 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ellie Mae in the 1st quarter valued at about $6,858,000. Zevenbergen Capital Investments LLC boosted its holdings in shares of Ellie Mae by 11.5% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 658,850 shares of the software maker’s stock valued at $72,414,000 after buying an additional 67,740 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Ellie Mae by 13.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 466,044 shares of the software maker’s stock valued at $38,276,000 after buying an additional 54,291 shares in the last quarter.
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A number of research firms have recently weighed in on ELLI. Zacks Investment Research cut shares of Ellie Mae from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 1st. Needham & Company LLC restated a “buy” rating on shares of Ellie Mae in a report on Sunday, October 29th. Barclays PLC raised their price target 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. Royal Bank Of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $105.00 in a research report on Wednesday, October 18th. Finally, BidaskClub raised shares of Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $110.71.
Ellie Mae, Inc. (ELLI) traded down $1.74 on Thursday, reaching $86.86. 299,600 shares of the company’s stock were exchanged, compared to its average volume of 444,535. Ellie Mae, Inc. has a 12 month low of $77.60 and a 12 month high of $114.95. The stock has a market cap of $3,059.91, a price-to-earnings ratio of 70.32, a PEG ratio of 7.44 and a beta of 0.30.
Ellie Mae (NYSE:ELLI) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $105.62 million. During the same period last year, the firm posted $0.60 EPS. Ellie Mae’s revenue for the quarter was up 6.6% compared to the same quarter last year. sell-side analysts forecast that Ellie Mae, Inc. will post 0.9 EPS for the current fiscal year.
Ellie Mae announced that its Board of Directors has approved a share repurchase program on Tuesday, September 5th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Jonathan Corr sold 2,211 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $87.52, for a total transaction of $193,506.72. Following the sale, the chief executive officer now owns 116,002 shares of the company’s stock, valued at approximately $10,152,495.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Barr Dolan sold 4,666 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 9,053 shares in the company, valued at approximately $792,952.27. The disclosure for this sale can be found here. Insiders have sold a total of 27,457 shares of company stock valued at $2,388,622 over the last three months. 3.39% of the stock is currently owned by insiders.
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.
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