Ellie Mae (NYSE:ELLI)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued on Wednesday. They currently have a $106.00 price objective on the software maker’s stock. Royal Bank of Canada’s target price suggests a potential upside of 19.29% from the company’s previous close.

Several other brokerages have also recently weighed in on ELLI. Morgan Stanley increased their target price on Ellie Mae from $101.00 to $109.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Oppenheimer restated a “buy” rating and set a $110.00 target price on shares of Ellie Mae in a report on Thursday, February 1st. Zacks Investment Research upgraded Ellie Mae from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, December 27th. Barclays increased their target price on Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Finally, KeyCorp increased their target price on Ellie Mae from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $106.11.

Ellie Mae (ELLI) opened at $88.86 on Wednesday. The company has a market capitalization of $2,960.69, a PE ratio of 60.04, a PEG ratio of 7.12 and a beta of 0.57. Ellie Mae has a 1 year low of $79.71 and a 1 year high of $114.95.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $112.89 million for the quarter, compared to analyst estimates of $108.27 million. Ellie Mae had a return on equity of 5.43% and a net margin of 12.67%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. equities analysts expect that Ellie Mae will post 0.81 EPS for the current year.

In other Ellie Mae news, insider Sigmund Anderman sold 18,726 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $88.80, for a total value of $1,662,868.80. Following the completion of the sale, the insider now owns 81,087 shares in the company, valued at approximately $7,200,525.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jonathan Corr sold 2,212 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $88.95, for a total value of $196,757.40. Following the completion of the sale, the chief executive officer now owns 114,633 shares of the company’s stock, valued at approximately $10,196,605.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,721 shares of company stock valued at $5,402,858. Company insiders own 3.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELLI. Ameriprise Financial Inc. purchased a new stake in Ellie Mae in the 2nd quarter worth approximately $4,392,000. Advisor Group Inc. lifted its stake in shares of Ellie Mae by 13.2% in the 2nd quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock valued at $112,000 after purchasing an additional 118 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Ellie Mae by 18.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 56,241 shares of the software maker’s stock valued at $6,181,000 after purchasing an additional 8,723 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ellie Mae by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 197,619 shares of the software maker’s stock valued at $21,719,000 after purchasing an additional 5,276 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of Ellie Mae in the 2nd quarter valued at approximately $270,000.

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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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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