Bank of America lowered shares of Ellie Mae (NYSE:ELLI) from a buy rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports. They currently have $110.00 price objective on the software maker’s stock.

A number of other equities analysts have also weighed in on the company. Barclays raised Ellie Mae from an equal weight rating to an overweight rating and upped their price objective for the stock from $100.00 to $114.00 in a research note on Tuesday, January 9th. Zacks Investment Research raised Ellie Mae from a hold rating to a buy rating and set a $103.00 price objective for the company in a research note on Wednesday, December 27th. KeyCorp upped their price objective on Ellie Mae from $118.00 to $120.00 and gave the stock an overweight rating in a research note on Monday, February 5th. Royal Bank of Canada reaffirmed an outperform rating and issued a $106.00 price objective on shares of Ellie Mae in a research note on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on Ellie Mae from $101.00 to $109.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $105.25.

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NYSE:ELLI opened at $87.20 on Monday. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95. The stock has a market cap of $2,965.04, a price-to-earnings ratio of 79.33, a P/E/G ratio of 7.47 and a beta of 0.53.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $112.89 million during the quarter, compared to analyst estimates of $108.27 million. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. Ellie Mae’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. equities research analysts expect that Ellie Mae will post 0.77 EPS for the current fiscal year.

In related news, CEO Jonathan Corr sold 589 shares of the business’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $94.34, for a total value of $55,566.26. Following the sale, the chief executive officer now directly owns 109,572 shares in the company, valued at $10,337,022.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Lavay sold 531 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $91.86, for a total value of $48,777.66. Following the completion of the sale, the chief financial officer now owns 19,358 shares in the company, valued at $1,778,225.88. The disclosure for this sale can be found here. Insiders sold 58,727 shares of company stock worth $5,367,643 over the last quarter. 3.14% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of ELLI. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ellie Mae by 45.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock worth $174,000 after buying an additional 602 shares in the last quarter. Barings LLC purchased a new stake in shares of Ellie Mae in the fourth quarter worth about $201,000. Atria Investments LLC purchased a new stake in shares of Ellie Mae in the fourth quarter worth about $261,000. Stifel Financial Corp raised its position in Ellie Mae by 42.5% during the third quarter. Stifel Financial Corp now owns 3,502 shares of the software maker’s stock valued at $288,000 after purchasing an additional 1,044 shares during the period. Finally, Jefferies Group LLC purchased a new stake in Ellie Mae during the fourth quarter valued at approximately $292,000.

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Ellie Mae Company Profile

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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