Wall Street analysts expect that Ellie Mae Inc (NASDAQ:ELLI) will report sales of $105.65 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ellie Mae’s earnings. The highest sales estimate is $110.40 million and the lowest is $103.48 million. Ellie Mae posted sales of $100.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is expected to issue its next earnings results after the market closes on Thursday, October 26th.

On average, analysts expect that Ellie Mae will report full year sales of $105.65 million for the current fiscal year, with estimates ranging from $400.24 million to $439.00 million. For the next fiscal year, analysts expect that the business will report sales of $486.79 million per share, with estimates ranging from $459.86 million to $531.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Ellie Mae.

Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share.

Several equities analysts recently weighed in on the stock. 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. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $90.00 target price on shares of Ellie Mae in a research note on Tuesday. BidaskClub downgraded shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. KeyCorp reaffirmed a “buy” rating and issued a $116.00 target price on shares of Ellie Mae in a research note on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Ellie Mae from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ellie Mae has an average rating of “Buy” and a consensus price target of $112.41.

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Ellie Mae (NASDAQ ELLI) opened at 86.61 on Friday. The firm has a market cap of $2.98 billion and a price-to-earnings ratio of 57.43. The firm has a 50-day moving average of $83.92 and a 200 day moving average of $98.86. Ellie Mae has a 52-week low of $77.60 and a 52-week high of $114.95.

Ellie Mae announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 5th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the software maker to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Gates Cathleen Schreiner sold 1,200 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total transaction of $101,496.00. Following the completion of the sale, the executive vice president now owns 45,049 shares of the company’s stock, valued at $3,810,244.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Corr sold 2,211 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.44, for a total transaction of $195,540.84. Following the sale, the chief executive officer now directly owns 114,902 shares of the company’s stock, valued at approximately $10,161,932.88. The disclosure for this sale can be found here. Insiders have sold 13,927 shares of company stock valued at $1,209,212 in the last three months.

Several hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in Ellie Mae in the second quarter valued at $315,000. 1st Global Advisors Inc. grew its position in Ellie Mae by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 4,554 shares of the software maker’s stock valued at $501,000 after purchasing an additional 30 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Ellie Mae by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the software maker’s stock valued at $327,000 after purchasing an additional 141 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Ellie Mae by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 25,858 shares of the software maker’s stock valued at $2,843,000 after purchasing an additional 733 shares in the last quarter. Finally, State Street Corp grew its position in Ellie Mae by 6.6% in the second quarter. State Street Corp now owns 674,428 shares of the software maker’s stock valued at $74,129,000 after purchasing an additional 41,894 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.

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