Ellie Mae (NYSE:ELLI) had its target price lowered by stock analysts at Bank of America from $115.00 to $110.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the software maker’s stock. Bank of America’s price target would indicate a potential upside of 21.51% from the company’s previous close.
ELLI has been the topic of several other research reports. Zacks Investment Research lowered shares of Ellie Mae from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 1st. Royal Bank of Canada raised shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $90.00 to $105.00 in a report on Wednesday, October 18th. BidaskClub raised shares of Ellie Mae from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Barclays raised shares of Ellie Mae from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $100.00 to $114.00 in a report on Tuesday, January 9th. Finally, Compass Point assumed coverage on shares of Ellie Mae in a report on Wednesday, January 3rd. They set a “sell” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Ellie Mae has a consensus rating of “Buy” and a consensus price target of $105.89.
Shares of Ellie Mae (ELLI) opened at $90.53 on Friday. Ellie Mae has a fifty-two week low of $79.71 and a fifty-two week high of $114.95. The firm has a market cap of $3,126.54, a PE ratio of 83.06, a PEG ratio of 8.27 and a beta of 0.57.
In other news, CEO Jonathan Corr sold 1,131 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $93.50, for a total value of $105,748.50. Following the transaction, the chief executive officer now owns 114,922 shares of the company’s stock, valued at approximately $10,745,207. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Blasing sold 1,728 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $100.00, for a total transaction of $172,800.00. Following the completion of the transaction, the director now directly owns 7,275 shares in the company, valued at approximately $727,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,721 shares of company stock worth $5,402,858. Insiders own 3.39% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Ellie Mae by 180.6% in the 4th quarter. Global X Management Co. LLC now owns 20,796 shares of the software maker’s stock valued at $1,859,000 after purchasing an additional 13,384 shares during the last quarter. Barings LLC bought a new position in shares of Ellie Mae in the 4th quarter valued at about $201,000. Swiss National Bank raised its position in shares of Ellie Mae by 4.1% in the 4th quarter. Swiss National Bank now owns 58,600 shares of the software maker’s stock valued at $5,239,000 after acquiring an additional 2,300 shares during the period. Teacher Retirement System of Texas raised its position in shares of Ellie Mae by 317.1% in the 4th quarter. Teacher Retirement System of Texas now owns 11,676 shares of the software maker’s stock valued at $1,044,000 after acquiring an additional 8,877 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Ellie Mae in the 4th quarter valued at approximately $300,000.
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.
Receive News & Ratings for Ellie Mae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae and related companies with MarketBeat.com's FREE daily email newsletter.