Ellie Mae (ELLI) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ellie Mae (NYSE:ELLI) in a research report report published on Wednesday. The firm currently has a $106.00 target price on the software maker’s stock.

A number of other analysts have also commented on ELLI. BidaskClub raised shares of Ellie Mae from a hold rating to a buy rating in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Ellie Mae from a sell rating to a hold rating in a research report on Wednesday, October 18th. Barclays increased their price target on shares of Ellie Mae from $92.00 to $100.00 and gave the stock an equal weight rating in a research report on Friday, October 27th. Needham & Company LLC restated a buy rating on shares of Ellie Mae in a report on Sunday, October 29th. Finally, KeyCorp restated a buy rating and issued a $116.00 price objective on shares of Ellie Mae in a report on Sunday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Ellie Mae presently has an average rating of Buy and a consensus price target of $106.11.

Shares of Ellie Mae (NYSE ELLI) traded down $0.28 on Wednesday, reaching $88.66. 62,410 shares of the company were exchanged, compared to its average volume of 426,685. Ellie Mae has a 12-month low of $79.71 and a 12-month high of $114.95. The company has a market cap of $3,070.00, a price-to-earnings ratio of 60.09, a PEG ratio of 7.56 and a beta of 0.57.

Ellie Mae (NYSE:ELLI) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. The company had revenue of $112.89 million during the quarter, compared to analyst estimates of $108.27 million. During the same quarter last year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. equities analysts forecast that Ellie Mae will post 0.78 EPS for the current year.

In related news, EVP Gates Cathleen Schreiner sold 1,900 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $86.01, for a total value of $163,419.00. Following the completion of the transaction, the executive vice president now directly owns 43,149 shares of the company’s stock, valued at $3,711,245.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Corr sold 1,132 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $86.89, for a total value of $98,359.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,253 shares of company stock valued at $4,743,558. 3.39% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ELLI. Ameriprise Financial Inc. bought a new position in shares of Ellie Mae during the second quarter valued at $4,392,000. Advisor Group Inc. raised its holdings in shares of Ellie Mae by 13.2% in the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after buying an additional 118 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Ellie Mae by 18.4% in the second quarter. Parametric Portfolio Associates LLC now owns 56,241 shares of the software maker’s stock valued at $6,181,000 after buying an additional 8,723 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ellie Mae by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 197,619 shares of the software maker’s stock valued at $21,719,000 after buying an additional 5,276 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Ellie Mae in the second quarter valued at about $270,000.

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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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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