Bank of America cut shares of Ellie Mae (NYSE:ELLI) from a buy rating to a neutral rating in a report released on Monday, Marketbeat.com reports. They currently have $110.00 price objective on the software maker’s stock.
Other research analysts have also recently issued research reports about the company. KeyCorp reiterated a buy rating and set a $120.00 price objective on shares of Ellie Mae in a research note on Wednesday, March 21st. Zacks Investment Research upgraded Ellie Mae from a hold rating to a buy rating and set a $98.00 price objective for the company in a research note on Friday, February 9th. Oppenheimer reiterated a buy rating and set a $110.00 price objective on shares of Ellie Mae in a research note on Thursday, February 1st. Morgan Stanley lifted their price objective on Ellie Mae from $101.00 to $109.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. Finally, Stephens reiterated a hold rating and set a $92.00 price objective on shares of Ellie Mae in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $105.25.
Shares of NYSE:ELLI opened at $87.20 on Monday. The firm has a market cap of $2,965.04, a price-to-earnings ratio of 79.33, a P/E/G ratio of 7.47 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 data on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. equities research analysts forecast that Ellie Mae will post 0.77 EPS for the current fiscal year.
In related news, CEO Jonathan Corr sold 589 shares of the company’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $94.34, for a total transaction of $55,566.26. Following the completion of the sale, the chief executive officer now owns 109,572 shares in the company, valued at $10,337,022.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian E. Brown sold 465 shares of the company’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $91.95, for a total value of $42,756.75. Following the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $1,628,250.60. The disclosure for this sale can be found here. Insiders sold 58,727 shares of company stock valued at $5,367,643 in the last 90 days. Company insiders own 3.14% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ELLI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ellie Mae by 45.0% during 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 purchased a new stake in Ellie Mae during the fourth quarter valued at $201,000. Atria Investments LLC purchased a new stake in Ellie Mae during the fourth quarter valued at $261,000. Stifel Financial Corp increased its position in Ellie Mae by 42.5% during the third quarter. Stifel Financial Corp now owns 3,502 shares of the software maker’s stock valued at $288,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Jefferies Group LLC purchased a new stake in Ellie Mae during the fourth quarter valued at $292,000.
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About Ellie Mae
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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