Royal Bank Of Canada reiterated their hold rating on shares of Ellie Mae Inc (NASDAQ:ELLI) in a research note released on Tuesday morning. Royal Bank Of Canada currently has a $90.00 price objective on the software maker’s stock.
A number of other equities analysts have also commented on ELLI. Needham & Company LLC reissued a buy rating and issued a $100.00 price target on shares of Ellie Mae in a research report on Monday, August 14th. BidaskClub lowered shares of Ellie Mae from a buy rating to a hold rating in a research report on Monday, August 7th. KeyCorp reissued a buy rating and issued a $116.00 price target on shares of Ellie Mae in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Ellie Mae from a strong sell rating to a hold rating in a research report on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $101.00 target price on shares of Ellie Mae in a research report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $112.41.
Shares of Ellie Mae (ELLI) opened at 83.79 on Tuesday. Ellie Mae has a 12-month low of $77.60 and a 12-month high of $114.95. The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of 55.56. The company’s 50-day moving average is $83.71 and its 200-day moving average is $99.15.
Ellie Mae (NASDAQ:ELLI) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $110.69 million. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts forecast that Ellie Mae will post $1.49 earnings per share for the current fiscal year.
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Ellie Mae declared that its Board of Directors has initiated a share buyback program on Tuesday, September 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Ellie Mae news, CEO Jonathan Corr sold 2,210 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $83.71, for a total value of $184,999.10. Following the sale, the chief executive officer now owns 116,002 shares of the company’s stock, valued at approximately $9,710,527.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marina Levinson sold 2,861 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $82.39, for a total transaction of $235,717.79. Following the completion of the sale, the director now directly owns 3,358 shares in the company, valued at approximately $276,665.62. The disclosure for this sale can be found here. Insiders have sold 11,716 shares of company stock worth $1,024,019 in the last ninety days.
Institutional investors have recently made changes to their positions in the business. Advisor Group Inc. increased its holdings in Ellie Mae by 13.2% in the 2nd quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after buying an additional 118 shares during the period. Nisa Investment Advisors LLC increased 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 valued at $135,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ellie Mae by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock valued at $147,000 after buying an additional 119 shares during the period. Bank of Montreal Can increased 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 valued at $200,000 after buying an additional 25 shares during the period. Finally, Jane Street Group LLC bought a new stake in Ellie Mae in the 1st quarter valued at $214,000.
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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