Ellie Mae Inc (ELLI) Holdings Lifted by Nationwide Fund Advisors
Nationwide Fund Advisors raised its stake in shares of Ellie Mae Inc (NASDAQ:ELLI) by 18.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,475 shares of the software maker’s stock after buying an additional 29,937 shares during the quarter. Nationwide Fund Advisors owned about 0.56% of Ellie Mae worth $21,045,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ELLI. Strs Ohio grew its holdings in Ellie Mae by 36.7% during the 1st quarter. Strs Ohio now owns 4,100 shares of the software maker’s stock valued at $411,000 after buying an additional 1,100 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Ellie Mae by 29.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,912 shares of the software maker’s stock valued at $392,000 after buying an additional 900 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Ellie Mae by 3.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,748 shares of the software maker’s stock valued at $1,880,000 after buying an additional 540 shares in the last quarter. Comerica Bank purchased a new position in Ellie Mae during the 1st quarter valued at about $1,386,000. Finally, Swiss National Bank grew its holdings in Ellie Mae by 0.9% during the 1st quarter. Swiss National Bank now owns 55,300 shares of the software maker’s stock valued at $5,545,000 after buying an additional 500 shares in the last quarter.
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A number of research firms have weighed in on ELLI. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of Ellie Mae in a report on Wednesday, June 14th. Zacks Investment Research lowered Ellie Mae from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Morgan Stanley reiterated an “equal weight” rating and set a $115.00 price target (up previously from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. Roth Capital downgraded Ellie Mae from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target (down previously from $135.00) on shares of Ellie Mae in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Ellie Mae currently has a consensus rating of “Hold” and a consensus price target of $114.23.
Shares of Ellie Mae Inc (NASDAQ ELLI) opened at 85.40 on Monday. The company has a 50-day moving average price of $84.64 and a 200-day moving average price of $100.85. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.95. The company has a market cap of $2.94 billion and a P/E ratio of 56.63.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.16. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $110.69 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts predict that Ellie Mae Inc will post $1.49 EPS for the current year.
Ellie Mae announced that its board has initiated a stock repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Karen Blasing sold 414 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $112.40, for a total value of $46,533.60. Following the completion of the sale, the director now directly owns 5,547 shares of the company’s stock, valued at approximately $623,482.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sigmund Anderman sold 12,253 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $111.31, for a total value of $1,363,881.43. Following the completion of the sale, the insider now directly owns 105,167 shares of the company’s stock, valued at $11,706,138.77. The disclosure for this sale can be found here. Over the last three months, insiders have 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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