According to Zacks, “Ellie Mae is benefiting from continued momentum in its Data Connect and Investor Connect offerings. Increased adoption of new products and network strength are driving its per loan revenues. The company added new components to the Encompass Lending Platform, enhancing its strong wholesale and correspondent channel capabilities. Its broad product portfolio has been the major growth driver in the recent times. Shares have outperformed the industry in the past year. Ellie Mae recently inked an all-cash deal worth approximately $3.7 billion, per which it will to be acquired by private equity firm Thoma Bravo. Ellie Mae's serviceable industry, being concentrated to the financial mortgage industry is a major headwind, especially when the mortgage origination environment is facing hurdles like low housing inventory and rising interest rates.”
A number of other brokerages have also recently weighed in on ELLI. JMP Securities reaffirmed a buy rating and issued a $99.00 price objective on shares of Ellie Mae in a research note on Monday, February 11th. ValuEngine raised Ellie Mae from a hold rating to a buy rating in a research note on Wednesday, February 13th. William Blair cut Ellie Mae from an outperform rating to a market perform rating in a research note on Thursday, February 14th. Susquehanna Bancshares raised Ellie Mae from a negative rating to a neutral rating and lifted their price objective for the company from $53.00 to $99.00 in a research note on Wednesday, February 13th. Finally, Roth Capital cut Ellie Mae from a buy rating to a neutral rating and lowered their target price for the stock from $100.00 to $99.00 in a research note on Tuesday, February 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $86.43.
NYSE:ELLI opened at $98.99 on Friday. Ellie Mae has a 52 week low of $58.49 and a 52 week high of $116.90. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 96.11, a price-to-earnings-growth ratio of 7.04 and a beta of 1.40.
Ellie Mae (NYSE:ELLI) last issued its quarterly earnings data on Thursday, February 14th. The software maker reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). Ellie Mae had a net margin of 5.02% and a return on equity of 4.17%. The firm had revenue of $116.05 million during the quarter, compared to analyst estimates of $113.97 million. As a group, equities research analysts expect that Ellie Mae will post 0.95 EPS for the current fiscal year.
In other news, Director Sigmund Anderman sold 44,800 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $82.49, for a total transaction of $3,695,552.00. Following the completion of the transaction, the director now directly owns 6,945 shares of the company’s stock, valued at approximately $572,893.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian E. Brown sold 700 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $99.51, for a total value of $69,657.00. Following the transaction, the executive vice president now directly owns 39,242 shares of the company’s stock, valued at $3,904,971.42. The disclosure for this sale can be found here. Insiders have sold a total of 82,976 shares of company stock valued at $7,472,074 over the last three months. 3.14% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in ELLI. HMI Capital LLC boosted its position in shares of Ellie Mae by 311.5% during the 4th quarter. HMI Capital LLC now owns 1,974,986 shares of the software maker’s stock worth $124,088,000 after acquiring an additional 1,495,069 shares in the last quarter. Norges Bank acquired a new position in shares of Ellie Mae during the 4th quarter worth about $35,007,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Ellie Mae by 26.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,562,234 shares of the software maker’s stock worth $160,986,000 after acquiring an additional 541,636 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Ellie Mae by 23.0% during the 4th quarter. Baillie Gifford & Co. now owns 1,360,791 shares of the software maker’s stock worth $85,499,000 after acquiring an additional 254,771 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ellie Mae by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,104,393 shares of the software maker’s stock worth $294,203,000 after acquiring an additional 199,908 shares in the last quarter.
About Ellie Mae
Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and 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.
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