Ellie Mae (NYSE:ELLI)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report issued on Wednesday, March 21st. They presently have a $120.00 target price on the software maker’s stock. KeyCorp’s price objective suggests a potential upside of 38.78% from the company’s previous close.
ELLI has been the subject of a number of other reports. Oppenheimer reiterated a “buy” rating and set a $110.00 price target on shares of Ellie Mae in a report on Thursday, February 1st. Barclays upgraded Ellie Mae from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $100.00 to $114.00 in a research note on Tuesday, January 9th. Bank of America lowered their price target on Ellie Mae from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research cut Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Stephens restated a “hold” rating and set a $92.00 target price on shares of Ellie Mae in a report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $105.25.
Ellie Mae stock traded down $3.49 during midday trading on Wednesday, hitting $86.47. The company’s stock had a trading volume of 1,116,336 shares, compared to its average volume of 492,054. The stock has a market cap of $3,084.71, a PE ratio of 83.95, a price-to-earnings-growth ratio of 7.65 and a beta of 0.53. Ellie Mae has a 12 month low of $79.71 and a 12 month high of $114.95.
Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. The business had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. equities research analysts anticipate that Ellie Mae will post 0.78 EPS for the current fiscal year.
In related news, insider Sigmund Anderman sold 3,151 shares of Ellie Mae stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.35, for a total transaction of $284,692.85. Following the completion of the sale, the insider now directly owns 59,262 shares of the company’s stock, valued at approximately $5,354,321.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Corr sold 589 shares of Ellie Mae stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $94.34, for a total value of $55,566.26. Following the completion of the transaction, the chief executive officer now directly owns 109,572 shares of the company’s stock, valued at $10,337,022.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,727 shares of company stock valued at $5,367,643. Corporate insiders own 3.39% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors grew its position in Ellie Mae by 26.8% during the 3rd quarter. Nationwide Fund Advisors now owns 242,728 shares of the software maker’s stock worth $19,935,000 after acquiring an additional 51,253 shares during the last quarter. First Trust Advisors LP grew its position in Ellie Mae by 272.2% during the 3rd quarter. First Trust Advisors LP now owns 25,251 shares of the software maker’s stock worth $2,074,000 after acquiring an additional 18,467 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Ellie Mae during the 3rd quarter worth $139,000. State of Wisconsin Investment Board grew its position in Ellie Mae by 247.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 33,000 shares of the software maker’s stock worth $2,710,000 after acquiring an additional 23,500 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Ellie Mae by 0.8% during the 3rd quarter. New York State Common Retirement Fund now owns 500,265 shares of the software maker’s stock worth $41,087,000 after acquiring an additional 3,892 shares during the last quarter.
Ellie Mae Company Profile
Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.
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