Ellie Mae (ELLI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Ellie Mae (NYSE:ELLI) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other equities research analysts also recently issued research reports about the company. JMP Securities decreased their target price on Ellie Mae from $125.00 to $99.00 and set an outperform rating for the company in a research report on Friday, October 26th. Wedbush cut their price target on Ellie Mae from $70.00 to $53.00 and set an underperform rating on the stock in a research note on Monday, October 29th. Oppenheimer cut their price target on Ellie Mae from $92.00 to $80.00 and set an outperform rating on the stock in a research note on Thursday, November 29th. Bank of America cut their price target on Ellie Mae from $115.00 to $85.00 and set a neutral rating on the stock in a research note on Friday, October 26th. Finally, Zacks Investment Research cut Ellie Mae from a buy rating to a hold rating in a research note on Monday, January 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $86.43.

Shares of NYSE ELLI opened at $98.90 on Wednesday. Ellie Mae has a 1-year low of $58.49 and a 1-year high of $116.90. The stock has a market capitalization of $2.89 billion, a PE ratio of 96.02, a P/E/G ratio of 6.20 and a beta of 1.38.

In other news, Director Sigmund Anderman sold 18,128 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $63.71, for a total transaction of $1,154,934.88. Following the sale, the director now directly owns 25,073 shares in the company, valued at approximately $1,597,400.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gates Cathleen Schreiner sold 2,549 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $64.00, for a total value of $163,136.00. Following the sale, the executive vice president now owns 44,338 shares in the company, valued at $2,837,632. The disclosure for this sale can be found here. Insiders have sold 76,190 shares of company stock worth $5,725,870 in the last 90 days. 3.14% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in ELLI. FMR LLC raised its position in shares of Ellie Mae by 14.9% during the 2nd quarter. FMR LLC now owns 1,559,695 shares of the software maker’s stock worth $161,959,000 after purchasing an additional 202,708 shares during the period. Scout Investments Inc. raised its position in shares of Ellie Mae by 238.4% during the 3rd quarter. Scout Investments Inc. now owns 174,803 shares of the software maker’s stock worth $16,566,000 after purchasing an additional 123,147 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Ellie Mae during the 3rd quarter worth approximately $910,000. First Trust Advisors LP raised its position in shares of Ellie Mae by 112.4% during the 3rd quarter. First Trust Advisors LP now owns 21,680 shares of the software maker’s stock worth $2,055,000 after purchasing an additional 11,475 shares during the period. Finally, Palo Capital Inc. acquired a new stake in shares of Ellie Mae during the 3rd quarter worth approximately $379,000.

Ellie Mae Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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