Oppenheimer & Co. Inc. Has $663,000 Position in Ellie Mae Inc (ELLI)

Oppenheimer & Co. Inc. boosted its holdings in Ellie Mae Inc (NASDAQ:ELLI) by 19.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,033 shares of the software maker’s stock after buying an additional 967 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ellie Mae were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can lifted its holdings in Ellie Mae by 1.4% in the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock valued at $200,000 after buying an additional 25 shares during the period. Teacher Retirement System of Texas lifted its holdings in Ellie Mae by 1.3% in the second quarter. Teacher Retirement System of Texas now owns 2,691 shares of the software maker’s stock valued at $296,000 after buying an additional 35 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Ellie Mae by 8.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock valued at $135,000 after buying an additional 100 shares during the period. Prudential Financial Inc. lifted its holdings in Ellie Mae by 3.2% in the second quarter. Prudential Financial Inc. now owns 3,590 shares of the software maker’s stock valued at $395,000 after buying an additional 110 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ellie Mae by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock valued at $147,000 after buying an additional 119 shares during the period.

In other news, EVP Gates Cathleen Schreiner sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total value of $101,496.00. Following the sale, the executive vice president now directly owns 45,049 shares of the company’s stock, valued at approximately $3,810,244.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph P. Tyrrell sold 25,871 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $107.67, for a total transaction of $2,785,530.57. Following the completion of the sale, the executive vice president now directly owns 41,269 shares in the company, valued at $4,443,433.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,465 shares of company stock worth $6,105,069.

Several brokerages recently weighed in on ELLI. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a report on Monday, August 14th. BidaskClub lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Monday, August 7th. ValuEngine upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of Ellie Mae from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Roth Capital lowered shares of Ellie Mae from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $116.41.

Shares of Ellie Mae Inc (NASDAQ ELLI) opened at 84.34 on Wednesday. The firm has a market capitalization of $2.90 billion and a price-to-earnings ratio of 55.93. The firm has a 50-day moving average of $87.85 and a 200 day moving average of $101.21. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.95.

Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current year.

Ellie Mae declared that its board has initiated a share buyback plan on Tuesday, September 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 8.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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Ellie Mae Company Profile

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.

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Institutional Ownership by Quarter for Ellie Mae (NASDAQ:ELLI)

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