Cupps Capital Management buys $3,600,790 stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Cupps Capital Management scooped up 592 additional shares in Ellie Mae Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 35,092 shares of Ellie Mae Inc which is valued at $3,600,790.Ellie Mae Inc makes up approximately 1.56% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in ELLI by selling 3,209 shares or 60.88% in the most recent quarter. The Hedge Fund company now holds 2,062 shares of ELLI which is valued at $211,582. Ellie Mae Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.First Mercantile Trust Co boosted its stake in ELLI in the latest quarter, The investment management firm added 5,531 additional shares and now holds a total of 19,697 shares of Ellie Mae Inc which is valued at $2,012,049. Ellie Mae Inc makes up approx 0.27% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ELLI in the latest quarter, The investment management firm added 1,829 additional shares and now holds a total of 2,976 shares of Ellie Mae Inc which is valued at $302,064. Franklin Street Advisors Inc Nc sold out all of its stake in ELLI during the most recent quarter. The investment firm sold 2,375 shares of ELLI which is valued $241,063.

Ellie Mae Inc closed down -2.76 points or -2.69% at $99.85 with 3,25,697 shares getting traded on Tuesday. Post opening the session at $102.02, the shares hit an intraday low of $99.06 and an intraday high of $102.59 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Ellie Mae Inc reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $90.10 million for the quarter, compared to analysts expectations of $86.10 million. The company’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Ellie Mae Inc. Ellie Mae Inc was Initiated by JP Morgan to “Overweight” on Sep 9, 2016. Company shares were Reiterated by Barclays on Jul 29, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .Company shares were Reiterated by Needham on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $110 .

Ellie Mae Inc. (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass mortgage management solution provides one system of record that allows banks credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution 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 that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

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