Brown Advisory Inc. trimmed its holdings in Ellie Mae, Inc. (NYSE:ELLI) by 21.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,740 shares of the software maker’s stock after selling 2,172 shares during the period. Brown Advisory Inc.’s holdings in Ellie Mae were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of ELLI. Baillie Gifford & Co. grew its holdings in shares of Ellie Mae by 51.5% in the third quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock valued at $67,207,000 after purchasing an additional 278,321 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Ellie Mae by 378.7% in the third quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after purchasing an additional 151,347 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ellie Mae by 547.1% in the third quarter. JPMorgan Chase & Co. now owns 120,431 shares of the software maker’s stock valued at $9,759,000 after purchasing an additional 101,821 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Ellie Mae by 10.6% in the second quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock valued at $115,065,000 after purchasing an additional 100,103 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Ellie Mae by 22.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 515,365 shares of the software maker’s stock valued at $42,327,000 after purchasing an additional 93,101 shares during the period.
Several brokerages have weighed in on ELLI. Barclays increased their target price on shares of Ellie Mae from $92.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Ellie Mae from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and set a $116.00 target price on shares of Ellie Mae in a research note on Sunday, November 19th. Royal Bank Of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $90.00 to $105.00 in a research note on Wednesday, October 18th. Finally, BidaskClub raised shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Ellie Mae has a consensus rating of “Buy” and an average price target of $110.71.
Shares of Ellie Mae, Inc. (NYSE:ELLI) traded up $0.25 on Monday, hitting $88.71. 212,700 shares of the stock traded hands, compared to its average volume of 433,295. The firm has a market capitalization of $3,063.71, a PE ratio of 70.40, a PEG ratio of 7.45 and a beta of 0.28. Ellie Mae, Inc. has a 1-year low of $79.71 and a 1-year high of $114.95.
Ellie Mae (NYSE:ELLI) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.13. The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $105.62 million. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. sell-side analysts predict that Ellie Mae, Inc. will post 0.9 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.com-unik.info/2017/12/11/brown-advisory-inc-sells-2172-shares-of-ellie-mae-inc-elli.html.
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.
What are top analysts saying about Ellie Mae Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ellie Mae Inc. and related companies.