Hermes Investment Management Ltd. decreased its position in shares of Ellie Mae Inc (NASDAQ:ELLI) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,801 shares of the software maker’s stock after selling 11,365 shares during the period. Hermes Investment Management Ltd. owned approximately 0.52% of Ellie Mae worth $19,542,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ELLI. BlackRock Inc. raised its stake in Ellie Mae by 83,812.6% in the first quarter. BlackRock Inc. now owns 2,189,279 shares of the software maker’s stock worth $219,519,000 after buying an additional 2,186,670 shares during the period. FMR LLC raised its stake in Ellie Mae by 295.0% in the first quarter. FMR LLC now owns 719,149 shares of the software maker’s stock worth $72,109,000 after buying an additional 537,095 shares during the period. Baillie Gifford & Co. raised its stake in Ellie Mae by 185.7% in the first quarter. Baillie Gifford & Co. now owns 517,544 shares of the software maker’s stock worth $51,894,000 after buying an additional 336,420 shares during the period. Quantitative Investment Management LLC bought a new stake in Ellie Mae during the first quarter worth $14,057,000. Finally, Vanguard Group Inc. raised its stake in Ellie Mae by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,587,842 shares of the software maker’s stock worth $259,482,000 after buying an additional 127,005 shares during the period.
Shares of Ellie Mae Inc (NASDAQ:ELLI) opened at 83.98 on Friday. The stock has a market capitalization of $2.89 billion and a PE ratio of 55.69. The company’s 50 day moving average price is $103.02 and its 200 day moving average price is $101.98. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.95.
Ellie Mae (NASDAQ:ELLI) last posted its earnings results on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The business had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $110.69 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ellie Mae Inc will post $1.49 EPS for the current year.
ELLI has been the subject of a number of recent analyst reports. Pacific Crest restated an “overweight” rating and set a $130.00 target price (up previously from $110.00) on shares of Ellie Mae in a report on Sunday, April 23rd. Royal Bank Of Canada decreased their target price on Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating for the company in a report on Monday, April 24th. Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Bank of America Corporation initiated coverage on Ellie Mae in a report on Monday, May 15th. They set a “buy” rating and a $130.00 target price for the company. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 price objective on shares of Ellie Mae in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $116.54.
In other news, insider Sigmund Anderman sold 1,319 shares of Ellie Mae stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $109.90, for a total transaction of $144,958.10. Following the sale, the insider now owns 98,321 shares in the company, valued at $10,805,477.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Corr sold 2,211 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $88.44, for a total value of $195,540.84. Following the completion of the transaction, the chief executive officer now owns 114,902 shares in the company, valued at approximately $10,161,932.88. The disclosure for this sale can be found here. Insiders have sold 65,516 shares of company stock worth $7,083,087 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.
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