Ellie Mae Inc (ELLI) Holdings Increased by Neuberger Berman Group LLC
Neuberger Berman Group LLC boosted its position in Ellie Mae Inc (NASDAQ:ELLI) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,747 shares of the software maker’s stock after acquiring an additional 25 shares during the period. Neuberger Berman Group LLC’s holdings in Ellie Mae were worth $1,731,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ELLI. Strs Ohio grew its stake in Ellie Mae by 36.7% in the 1st quarter. Strs Ohio now owns 4,100 shares of the software maker’s stock worth $411,000 after acquiring an additional 1,100 shares during the period. Great West Life Assurance Co. Can grew its stake in Ellie Mae by 29.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,912 shares of the software maker’s stock worth $392,000 after acquiring an additional 900 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Ellie Mae by 3.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,748 shares of the software maker’s stock worth $1,880,000 after acquiring an additional 540 shares during the period. Comerica Bank purchased a new stake in Ellie Mae in the 1st quarter worth approximately $1,386,000. Finally, Swiss National Bank grew its stake in Ellie Mae by 0.9% in the 1st quarter. Swiss National Bank now owns 55,300 shares of the software maker’s stock worth $5,545,000 after acquiring an additional 500 shares during the period.
Shares of Ellie Mae Inc (NASDAQ ELLI) opened at 85.40 on Friday. Ellie Mae Inc has a 12 month low of $77.60 and a 12 month high of $114.95. The stock has a market capitalization of $2.94 billion and a PE ratio of 56.63. The company’s 50-day moving average is $84.64 and its 200-day moving average is $100.85.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $110.69 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current fiscal year.
Ellie Mae declared that its Board of Directors has approved a stock buyback program on Tuesday, September 5th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several analysts have commented on ELLI shares. KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Ellie Mae in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Monday, July 3rd. 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. Roth Capital cut shares of Ellie Mae from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, ValuEngine cut shares of Ellie Mae from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Ellie Mae presently has a consensus rating of “Hold” and an average target price of $114.23.
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In other news, EVP Gates Cathleen Schreiner sold 1,200 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total transaction of $101,496.00. Following the transaction, the executive vice president now owns 45,049 shares in the company, valued at approximately $3,810,244.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Corr sold 2,210 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $83.71, for a total transaction of $184,999.10. Following the transaction, the chief executive officer now owns 116,002 shares in the company, valued at approximately $9,710,527.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,465 shares of company stock valued at $6,105,069.
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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