Ellie Mae, Inc. (ELLI) Stock Rating Reaffirmed by KeyCorp

Ellie Mae, Inc. (NYSE:ELLI)‘s stock had its “buy” rating restated by KeyCorp in a research report issued on Sunday. They currently have a $116.00 price objective on the software maker’s stock. KeyCorp’s target price suggests a potential upside of 32.09% from the company’s current price.

Several other analysts also recently issued reports on the company. BidaskClub downgraded Ellie Mae from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine downgraded Ellie Mae from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a research note on Monday, August 14th. Zacks Investment Research upgraded Ellie Mae from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $90.00 price target on shares of Ellie Mae in a research note on Tuesday, October 10th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $110.71.

Ellie Mae (ELLI) opened at $87.82 on Friday. Ellie Mae has a 52-week low of $77.60 and a 52-week high of $114.95. The firm has a market capitalization of $3,020.00, a PE ratio of 69.79, a price-to-earnings-growth ratio of 7.39 and a beta of 0.31.

Ellie Mae (NYSE:ELLI) last issued its earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.13. Ellie Mae had a return on equity of 6.39% and a net margin of 13.45%. The company had revenue of $107.00 million for the quarter, compared to analyst estimates of $105.62 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. equities research analysts predict that Ellie Mae will post 0.9 EPS for the current year.

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In other Ellie Mae news, CEO Jonathan Corr sold 2,210 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $83.71, for a total value of $184,999.10. Following the completion of the transaction, the chief executive officer now owns 116,002 shares of the company’s stock, valued at approximately $9,710,527.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marina Levinson sold 2,861 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $82.39, for a total value of $235,717.79. Following the completion of the transaction, the director now directly owns 3,358 shares of the company’s stock, valued at approximately $276,665.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,057 shares of company stock valued at $3,146,282. 3.39% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ellie Mae by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,637,165 shares of the software maker’s stock valued at $289,851,000 after acquiring an additional 49,323 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Ellie Mae by 10.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock worth $115,065,000 after buying an additional 100,103 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Ellie Mae by 51.5% in the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock worth $67,207,000 after buying an additional 278,321 shares in the last quarter. FMR LLC raised its holdings in shares of Ellie Mae by 1.2% in the 2nd quarter. FMR LLC now owns 727,992 shares of the software maker’s stock worth $80,014,000 after buying an additional 8,843 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its holdings in shares of Ellie Mae by 5.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 678,721 shares of the software maker’s stock worth $55,743,000 after buying an additional 33,828 shares in the last quarter.

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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