Susquehanna Bancshares Begins Coverage on Ellie Mae (ELLI)

Susquehanna Bancshares began coverage on shares of Ellie Mae (NYSE:ELLI) in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a negative rating and a $53.00 target price on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. Barclays reissued a buy rating and set a $102.00 price objective on shares of Ellie Mae in a report on Tuesday, October 16th. Compass Point decreased their price objective on Ellie Mae from $60.00 to $55.00 and set a sell rating on the stock in a report on Friday, October 26th. JPMorgan Chase & Co. cut Ellie Mae from a neutral rating to an underweight rating and decreased their price objective for the company from $125.00 to $76.00 in a report on Friday, October 26th. JMP Securities decreased their price objective on Ellie Mae from $125.00 to $99.00 and set an outperform rating on the stock in a report on Friday, October 26th. Finally, Royal Bank of Canada cut Ellie Mae from an outperform rating to a sector perform rating in a report on Friday, October 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $85.20.

NYSE:ELLI opened at $67.27 on Thursday. Ellie Mae has a twelve month low of $61.51 and a twelve month high of $116.90. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 5.21 and a beta of 1.29.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings results on Thursday, October 25th. The software maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Ellie Mae had a return on equity of 4.78% and a net margin of 7.11%. The firm had revenue of $122.97 million for the quarter, compared to analysts’ expectations of $128.22 million. As a group, equities research analysts forecast that Ellie Mae will post 0.93 earnings per share for the current year.

In related news, VP Popi Heron sold 731 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $64.83, for a total transaction of $47,390.73. Following the transaction, the vice president now directly owns 6,128 shares in the company, valued at approximately $397,278.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan Corr sold 589 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $101.07, for a total value of $59,530.23. Following the transaction, the chief executive officer now owns 109,572 shares in the company, valued at $11,074,442.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,241 shares of company stock worth $189,768. 3.14% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Ellie Mae by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,104,393 shares of the software maker’s stock worth $294,203,000 after acquiring an additional 199,908 shares during the last quarter. Standard Life Aberdeen plc grew its position in Ellie Mae by 6.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 477,750 shares of the software maker’s stock worth $45,276,000 after acquiring an additional 28,471 shares during the last quarter. Teachers Advisors LLC grew its position in Ellie Mae by 1.6% during the 3rd quarter. Teachers Advisors LLC now owns 84,251 shares of the software maker’s stock worth $7,984,000 after acquiring an additional 1,300 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Ellie Mae by 46.6% during the 3rd quarter. MetLife Investment Advisors LLC now owns 22,823 shares of the software maker’s stock worth $2,163,000 after acquiring an additional 7,256 shares during the last quarter. Finally, Sylebra HK Co Ltd grew its position in shares of Ellie Mae by 11.7% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,403,063 shares of the software maker’s stock worth $132,968,000 after buying an additional 146,582 shares during the last quarter.

About Ellie Mae

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

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