RBC Capital Downgrades Ellie Mae Inc to Hold

By Jason Carr

In a report released today, Ross MacMillan from RBC Capital downgraded Ellie Mae Inc (NYSE: ELLI) to Hold, with a price target of $90. The company’s shares closed yesterday at $86.50.

According to TipRanks.com, MacMillan is a top 100 analyst with an average return of 14.6% and a 78.9% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Coupa Software Inc.

Ellie Mae Inc has an analyst consensus of Strong Buy, with a price target consensus of $116.80.

The company has a one year high of $109.99 and a one year low of $57.88. Currently, Ellie Mae Inc has an average volume of 499.7K.

Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELLI in relation to earlier this year. Earlier this month, Gates Cathleen Schreiner, the EVP Sales & Mkt of ELLI bought 1,300 shares for a total of $11,570.

Ellie Mae, Inc. engages in the provision of software solutions and services for the residential mortgage industry. The firm offers Encompass implementation services, professional consulting services, Encompass education and certification, technical support, and client resource center. Its Encompass software offers customer relationship management; loan processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements and overall enterprise management that provides one system of record for loans. was founded by Limin Hu and Sigmund Anderman in August 1997 and is headquartered in Pleasanton, CA.