Needham & Company LLC reissued their buy rating on shares of Ellie Mae Inc (NASDAQ:ELLI) in a report published on Sunday morning. The firm currently has a $100.00 price objective on the software maker’s stock.

ELLI has been the subject of several other reports. BidaskClub cut shares of Ellie Mae from a buy rating to a hold rating in a research note on Monday, August 7th. Roth Capital cut shares of Ellie Mae from a buy rating to a neutral rating in a research note on Friday, July 28th. ValuEngine raised shares of Ellie Mae from a sell rating to a hold rating in a research note on Friday. J P Morgan Chase & Co reissued a buy rating on shares of Ellie Mae in a research note on Friday. Finally, Morgan Stanley reissued an equal weight rating and set a $115.00 price objective (up from $106.00) on shares of Ellie Mae in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Ellie Mae has an average rating of Hold and a consensus target price of $116.54.

Ellie Mae (NASDAQ ELLI) traded up 3.40% during midday trading on Friday, hitting $85.80. The stock had a trading volume of 694,455 shares. Ellie Mae has a 12-month low of $77.60 and a 12-month high of $114.95. The stock has a 50-day moving average price of $92.13 and a 200 day moving average price of $101.47. The firm has a market cap of $2.95 billion and a P/E ratio of 56.90.

Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $110.69 million. During the same period in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Ellie Mae will post $1.49 earnings per share for the current fiscal year.

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In other Ellie Mae news, Director Karen Blasing sold 414 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $112.40, for a total value of $46,533.60. Following the transaction, the director now owns 5,547 shares in the company, valued at approximately $623,482.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Corr sold 2,210 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $112.41, for a total transaction of $248,426.10. Following the completion of the transaction, the chief executive officer now owns 116,002 shares in the company, valued at approximately $13,039,784.82. The disclosure for this sale can be found here. Insiders have sold a total of 57,167 shares of company stock worth $6,058,866 in the last 90 days.

A number of hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in Ellie Mae by 1.4% in the 2nd 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 in the last quarter. 1st Global Advisors Inc. lifted its holdings in Ellie Mae by 0.7% in the 2nd quarter. 1st Global Advisors Inc. now owns 4,554 shares of the software maker’s stock worth $501,000 after buying an additional 30 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Ellie Mae by 1.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 2,691 shares of the software maker’s stock worth $296,000 after buying an additional 35 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Ellie Mae by 8.8% in the 2nd 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 in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Ellie Mae by 3.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,590 shares of the software maker’s stock worth $395,000 after buying an additional 110 shares in the last quarter.

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.

Analyst Recommendations for Ellie Mae (NASDAQ:ELLI)

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