Ellie Mae Inc (ELLI) Given Consensus Rating of “Hold” by Brokerages

Ellie Mae Inc (NYSE:ELLI) has received an average recommendation of “Hold” from the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $84.00.

A number of analysts recently commented on ELLI shares. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, January 8th. JMP Securities reaffirmed a “buy” rating and set a $99.00 price target on shares of Ellie Mae in a research report on Monday, February 11th. ValuEngine raised Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, Needham & Company LLC downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th.

Shares of ELLI traded up $0.04 on Monday, reaching $98.98. 85,931 shares of the company’s stock traded hands, compared to its average volume of 1,371,868. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 96.10, a PEG ratio of 7.04 and a beta of 1.40. Ellie Mae has a 52-week low of $58.49 and a 52-week high of $116.90.

Ellie Mae (NYSE:ELLI) last issued its quarterly earnings results on Thursday, February 14th. The software maker reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). The business had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $113.97 million. Ellie Mae had a net margin of 5.02% and a return on equity of 4.17%. Sell-side analysts anticipate that Ellie Mae will post 0.95 EPS for the current year.

In other news, Director Sigmund Anderman sold 265 shares of Ellie Mae stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $98.80, for a total value of $26,182.00. Following the completion of the transaction, the director now directly owns 5,193 shares in the company, valued at $513,068.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Corr sold 5,577 shares of Ellie Mae stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $98.84, for a total value of $551,230.68. Following the completion of the transaction, the chief executive officer now owns 137,610 shares of the company’s stock, valued at $13,601,372.40. The disclosure for this sale can be found here. Insiders sold 82,976 shares of company stock valued at $7,472,074 over the last three months. Company insiders own 3.14% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ELLI. HMI Capital LLC grew its position in shares of Ellie Mae by 311.5% in the fourth quarter. HMI Capital LLC now owns 1,974,986 shares of the software maker’s stock valued at $124,088,000 after purchasing an additional 1,495,069 shares in the last quarter. Norges Bank purchased a new position in shares of Ellie Mae in the fourth quarter valued at $35,007,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Ellie Mae by 26.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,562,234 shares of the software maker’s stock valued at $160,986,000 after purchasing an additional 541,636 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Ellie Mae by 23.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,360,791 shares of the software maker’s stock valued at $85,499,000 after purchasing an additional 254,771 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Ellie Mae by 6.9% in the third quarter. Vanguard Group Inc. now owns 3,104,393 shares of the software maker’s stock valued at $294,203,000 after purchasing an additional 199,908 shares in the last quarter.

About Ellie Mae

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and 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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Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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