Water Island Capital LLC acquired a new stake in Ellie Mae Inc (NYSE:ELLI) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 596,223 shares of the software maker’s stock, valued at approximately $58,841,000. Ellie Mae accounts for approximately 2.9% of Water Island Capital LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HMI Capital LLC grew its holdings in Ellie Mae by 311.5% during the 4th quarter. HMI Capital LLC now owns 1,974,986 shares of the software maker’s stock valued at $124,088,000 after buying an additional 1,495,069 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Ellie Mae during the 1st quarter valued at $64,565,000. Norges Bank acquired a new stake in Ellie Mae during the 4th quarter valued at $35,007,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in 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 valued at $160,986,000 after buying an additional 541,636 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in Ellie Mae during the 1st quarter valued at $47,467,000.

Shares of ELLI stock remained flat at $$98.99 during mid-day trading on Wednesday. Ellie Mae Inc has a fifty-two week low of $58.49 and a fifty-two week high of $116.90. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 96.11, a price-to-earnings-growth ratio of 7.05 and a beta of 1.40.

Ellie Mae (NYSE:ELLI) last posted its quarterly earnings data on Thursday, February 14th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). Ellie Mae had a return on equity of 4.17% and a net margin of 5.02%. The business had revenue of $116.05 million for the quarter, compared to analyst estimates of $113.97 million. As a group, equities research analysts predict that Ellie Mae Inc will post 0.95 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Ellie Mae from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. William Blair cut Ellie Mae from an “outperform” rating to a “market perform” rating in a report on Thursday, February 14th. Susquehanna Bancshares upgraded Ellie Mae from a “negative” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $99.00 in a report on Wednesday, February 13th. ValuEngine upgraded Ellie Mae from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Needham & Company LLC cut Ellie Mae from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Four equities research 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 presently has a consensus rating of “Hold” and an average price target of $86.43.

In other news, EVP Joseph P. Tyrrell sold 3,885 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $98.88, for a total transaction of $384,148.80. Following the completion of the transaction, the executive vice president now directly owns 23,100 shares in the company, valued at $2,284,128. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gates Cathleen Schreiner sold 639 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $98.65, for a total value of $63,037.35. Following the transaction, the executive vice president now owns 41,572 shares of the company’s stock, valued at $4,101,077.80. The disclosure for this sale can be found here. Insiders sold 38,176 shares of company stock worth $3,776,522 in the last quarter. 3.14% of the stock is owned by insiders.

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Ellie Mae Company Profile

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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Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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