KeyCorp Reaffirms Buy Rating for Ellie Mae (ELLI)

KeyCorp reaffirmed their buy rating on shares of Ellie Mae (NYSE:ELLI) in a research report report published on Wednesday morning. The brokerage currently has a $120.00 target price on the software maker’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Ellie Mae from a hold rating to a buy rating and set a $103.00 target price for the company in a research report on Wednesday, December 27th. Bank of America decreased their target price on Ellie Mae from $115.00 to $110.00 and set a buy rating for the company in a research report on Friday, February 9th. Oppenheimer reaffirmed a buy rating and set a $110.00 price objective on shares of Ellie Mae in a research report on Thursday, February 1st. Morgan Stanley raised their price objective on Ellie Mae from $101.00 to $109.00 and gave the company an equal weight rating in a research report on Tuesday, January 30th. Finally, Stephens reaffirmed a hold rating and set a $92.00 price objective on shares of Ellie Mae in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $106.58.

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ELLI stock opened at $90.45 on Wednesday. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95. The stock has a market capitalization of $3,176.95, a P/E ratio of 85.00, a PEG ratio of 7.88 and a beta of 0.63.

Ellie Mae (NYSE:ELLI) last announced its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. The firm had revenue of $112.89 million during the quarter, compared to analyst estimates of $108.27 million. During the same quarter in the prior year, the company earned $0.46 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. equities analysts anticipate that Ellie Mae will post 0.78 earnings per share for the current year.

In other Ellie Mae news, insider Sigmund Anderman sold 18,726 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $88.80, for a total transaction of $1,662,868.80. Following the sale, the insider now directly owns 81,087 shares in the company, valued at approximately $7,200,525.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gates Cathleen Schreiner sold 13,000 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $95.56, for a total value of $1,242,280.00. Following the sale, the executive vice president now owns 56,313 shares in the company, valued at $5,381,270.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,669 shares of company stock valued at $7,747,079. 3.39% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Capital Management LLC boosted its stake in Ellie Mae by 11.9% during the 4th quarter. Brown Capital Management LLC now owns 2,775,314 shares of the software maker’s stock valued at $248,113,000 after purchasing an additional 295,702 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Ellie Mae by 5.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 678,721 shares of the software maker’s stock valued at $55,743,000 after purchasing an additional 33,828 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Ellie Mae by 0.8% during the 3rd quarter. New York State Common Retirement Fund now owns 500,265 shares of the software maker’s stock valued at $41,087,000 after purchasing an additional 3,892 shares during the last quarter. Meritage Group LP purchased a new stake in Ellie Mae during the 3rd quarter valued at $38,834,000. Finally, Standard Life Aberdeen plc boosted its stake in Ellie Mae by 5.4% during the 4th quarter. Standard Life Aberdeen plc now owns 470,081 shares of the software maker’s stock valued at $42,028,000 after purchasing an additional 24,048 shares during the last quarter.

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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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