Swiss National Bank Acquires 1,000 Shares of Ellie Mae Inc (ELLI)
Swiss National Bank grew its holdings in shares of Ellie Mae Inc (NASDAQ:ELLI) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,300 shares of the software maker’s stock after purchasing an additional 1,000 shares during the period. Swiss National Bank owned about 0.16% of Ellie Mae worth $6,188,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in Ellie Mae by 8.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock worth $135,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ellie Mae by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock worth $147,000 after purchasing an additional 119 shares during the period. Bank of Montreal Can increased its stake in Ellie Mae by 1.4% during the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock worth $200,000 after purchasing an additional 25 shares during the period. Jane Street Group LLC purchased a new stake in Ellie Mae during the first quarter worth about $214,000. Finally, Banco BTG Pactual S.A. purchased a new stake in Ellie Mae during the first quarter worth about $221,000.
ELLI has been the topic of a number of recent research reports. ValuEngine upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. J P Morgan Chase & Co reiterated a “buy” rating on shares of Ellie Mae in a research note on Friday, September 1st. Roth Capital lowered shares of Ellie Mae from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a research note on Sunday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $114.23.
Ellie Mae Inc (ELLI) opened at 85.40 on Monday. The stock’s 50 day moving average price is $84.64 and its 200-day moving average price is $100.85. The firm has a market capitalization of $2.94 billion and a P/E ratio of 56.63. Ellie Mae Inc has a 12 month low of $77.60 and a 12 month high of $114.95.
Ellie Mae (NASDAQ:ELLI) last announced its earnings results on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.36 by $0.16. The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, analysts forecast that Ellie Mae Inc will post $1.49 earnings per share for the current year.
Ellie Mae announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 5th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the software maker to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Sigmund Anderman sold 12,253 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $111.31, for a total transaction of $1,363,881.43. Following the sale, the insider now directly owns 105,167 shares in the company, valued at approximately $11,706,138.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen Blasing sold 414 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $112.40, for a total value of $46,533.60. Following the sale, the director now owns 5,547 shares in the company, valued at $623,482.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,465 shares of company stock worth $6,105,069.
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About Ellie Mae
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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