Ellie Mae Inc (NASDAQ:ELLI) Downgraded by BidaskClub
Ellie Mae Inc (NASDAQ:ELLI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday.
A number of other research analysts have also commented on the company. KeyCorp reissued a “buy” rating and set a $130.00 price target on shares of Ellie Mae in a report on Wednesday, June 14th. ValuEngine lowered Ellie Mae from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Bank of America Corporation assumed coverage on Ellie Mae in a report on Monday, May 15th. They set a “buy” rating and a $130.00 price target on the stock. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Monday, July 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price target (down from $135.00) on shares of Ellie Mae in a report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $116.54.
Shares of Ellie Mae (NASDAQ:ELLI) opened at 87.00 on Monday. The stock has a market capitalization of $2.99 billion and a price-to-earnings ratio of 57.69. The firm’s 50 day moving average is $106.67 and its 200 day moving average is $101.91. Ellie Mae has a 12 month low of $77.60 and a 12 month high of $114.95.
Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts predict that Ellie Mae will post $1.49 earnings per share for the current fiscal year.
In related news, insider Sigmund Anderman sold 1,319 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $109.90, for a total value of $144,958.10. Following the completion of the transaction, the insider now owns 98,321 shares in the company, valued at approximately $10,805,477.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Corr sold 2,210 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $112.41, for a total value of $248,426.10. Following the completion of the transaction, the chief executive officer now owns 116,002 shares of the company’s stock, valued at approximately $13,039,784.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,516 shares of company stock worth $7,083,087.
Several institutional investors have recently added to or reduced their stakes in ELLI. Nisa Investment Advisors LLC raised its position 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 worth $135,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 worth $147,000 after buying an additional 119 shares during the period. Bank of Montreal Can raised its position 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 worth $200,000 after buying an additional 25 shares during the period. Jane Street Group LLC bought a new position in Ellie Mae during the first quarter worth $214,000. Finally, Banco BTG Pactual S.A. bought a new position in Ellie Mae during the first quarter worth $221,000.
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.
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