First Mercantile Trust Co. Has $1.46 Million Position in Ellie Mae Inc (NASDAQ:ELLI)
First Mercantile Trust Co. reduced its position in shares of Ellie Mae Inc (NASDAQ:ELLI) by 28.8% during the second quarter, Holdings Channel reports. The fund owned 13,255 shares of the software maker’s stock after selling 5,362 shares during the period. First Mercantile Trust Co.’s holdings in Ellie Mae were worth $1,457,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake 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 worth $135,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can raised its stake 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 worth $200,000 after buying an additional 25 shares during the last quarter. Jane Street Group LLC bought a new stake in Ellie Mae during the first quarter worth approximately $214,000. Banco BTG Pactual S.A. bought a new stake in Ellie Mae during the first quarter worth approximately $221,000. Finally, United Capital Financial Advisers LLC bought a new stake in Ellie Mae during the first quarter worth approximately $231,000.
Ellie Mae Inc (ELLI) opened at 83.24 on Friday. Ellie Mae Inc has a 1-year low of $77.60 and a 1-year high of $114.95. The company has a market cap of $2.86 billion and a P/E ratio of 55.20. The stock’s 50 day moving average price is $103.81 and its 200 day moving average price is $101.97.
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 analysts’ consensus estimates of $0.36 by $0.16. The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. Ellie Mae’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities analysts anticipate that Ellie Mae Inc will post $1.49 earnings per share for the current fiscal year.
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A number of brokerages have issued reports on ELLI. KeyCorp restated a “buy” rating and issued a $130.00 price objective on shares of Ellie Mae in a research note on Wednesday, June 14th. ValuEngine downgraded Ellie Mae from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Bank of America Corporation began coverage on Ellie Mae in a research note on Monday, May 15th. They issued a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research upgraded Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Monday, July 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective (down previously from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $116.54.
In related news, CEO Jonathan Corr sold 2,210 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $112.41, for a total transaction of $248,426.10. Following the completion of the sale, the chief executive officer now owns 116,002 shares in the company, valued at $13,039,784.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $2,785,530.57. Following the sale, the executive vice president now owns 41,269 shares of the company’s stock, valued at approximately $4,443,433.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,516 shares of company stock valued at $7,083,087.
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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