Great West Life Assurance Co. Can raised its position in shares of Ellie Mae Inc (NASDAQ:ELLI) by 29.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,912 shares of the software maker’s stock after buying an additional 900 shares during the period. Great West Life Assurance Co. Can’s holdings in Ellie Mae were worth $392,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ELLI. Kornitzer Capital Management Inc. KS boosted its position in shares of Ellie Mae by 0.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 48,570 shares of the software maker’s stock worth $4,870,000 after buying an additional 355 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Ellie Mae by 505.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 64,763 shares of the software maker’s stock worth $6,493,000 after buying an additional 54,063 shares during the last quarter. Strs Ohio boosted its position in shares of Ellie Mae by 36.7% in the first quarter. Strs Ohio now owns 4,100 shares of the software maker’s stock worth $411,000 after buying an additional 1,100 shares during the last quarter. Hermes Investment Management Ltd. boosted its position in shares of Ellie Mae by 2.5% in the first quarter. Hermes Investment Management Ltd. now owns 189,166 shares of the software maker’s stock worth $18,968,000 after buying an additional 4,606 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Ellie Mae during the first quarter worth about $351,000.
Shares of Ellie Mae Inc (NASDAQ:ELLI) opened at 112.67 on Friday. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.38. The firm has a market capitalization of $3.84 billion and a price-to-earnings ratio of 85.23. The firm has a 50-day moving average of $109.07 and a 200 day moving average of $97.11.
Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, April 27th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The company had revenue of $93 million for the quarter, compared to the consensus estimate of $93.17 million. Ellie Mae had a return on equity of 5.72% and a net margin of 10.32%. The firm’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts expect that Ellie Mae Inc will post $1.91 earnings per share for the current year.
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A number of equities analysts have issued reports on the stock. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Ellie Mae in a research note on Wednesday, June 14th. Bank of America Corporation assumed coverage on shares of Ellie Mae in a research note on Monday, May 15th. They issued a “buy” rating and a $130.00 price objective on the stock. Zacks Investment Research cut shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Royal Bank Of Canada reduced their price objective on shares of Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating on the stock in a research note on Monday, April 24th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $130.00 price objective (up from $110.00) on shares of Ellie Mae in a research note on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ellie Mae has a consensus rating of “Buy” and a consensus target price of $115.04.
In other news, CEO Jonathan Corr sold 13,382 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $96.80, for a total value of $1,295,377.60. Following the completion of the sale, the chief executive officer now owns 118,515 shares in the company, valued at $11,472,252. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Edgar Luce sold 3,452 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $96.28, for a total transaction of $332,358.56. Following the completion of the sale, the chief financial officer now owns 37,117 shares of the company’s stock, valued at approximately $3,573,624.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,356 shares of company stock worth $5,379,667.
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.
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