California Public Employees Retirement System Has $13.11 Million Stake in Ellie Mae Inc (ELLI)

California Public Employees Retirement System increased its stake in Ellie Mae Inc (NASDAQ:ELLI) by 261.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,700 shares of the software maker’s stock after buying an additional 94,500 shares during the period. California Public Employees Retirement System owned approximately 0.38% of Ellie Mae worth $13,105,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ELLI. First Allied Advisory Services Inc. bought a new stake in shares of Ellie Mae during the fourth quarter valued at $245,000. Creative Planning increased its stake in shares of Ellie Mae by 31.0% in the first quarter. Creative Planning now owns 2,989 shares of the software maker’s stock valued at $300,000 after buying an additional 707 shares during the last quarter. Folger Hill Asset Management LP bought a new stake in shares of Ellie Mae during the fourth quarter valued at $319,000. Capstone Investment Advisors LLC bought a new stake in shares of Ellie Mae during the fourth quarter valued at $334,000. Finally, BARING ASSET MANAGEMENT Ltd bought a new stake in shares of Ellie Mae during the first quarter valued at $338,000.

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

Shares of Ellie Mae Inc (ELLI) traded up 0.21% on Wednesday, reaching $110.65. The company had a trading volume of 13,429 shares. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.38. The firm has a market capitalization of $3.77 billion and a PE ratio of 83.70. The company has a 50-day moving average price of $109.07 and a 200-day moving average price of $97.11.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly 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 business had revenue of $93 million during the quarter, compared to analyst estimates of $93.17 million. Ellie Mae had a net margin of 10.32% and a return on equity of 5.72%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. Equities research analysts forecast that Ellie Mae Inc will post $1.91 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on ELLI shares. Vetr raised Ellie Mae from a “hold” rating to a “buy” rating and set a $97.50 target price for the company in a research report on Tuesday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Ellie Mae in a research report on Saturday, March 11th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Ellie Mae in a research report on Wednesday, June 14th. Bank of America Corporation started coverage on Ellie Mae in a research report on Monday, May 15th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Ellie Mae currently has a consensus rating of “Buy” and an average price target of $115.04.

In related news, EVP Brian E. Brown sold 2,196 shares of Ellie Mae stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $98.23, for a total transaction of $215,713.08. Following the sale, the executive vice president now directly owns 15,707 shares of the company’s stock, valued at $1,542,898.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jonathan Corr sold 2,210 shares of Ellie Mae stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $112.41, for a total value of $248,426.10. Following the sale, the chief executive officer now directly owns 116,002 shares in the company, valued at $13,039,784.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,689 shares of company stock worth $3,969,252.

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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