Revenue Update on Ellie Mae Inc(NYSE:ELLI)

Ellie Mae Inc(NYSE:ELLI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $90.10M. Analysts estimated a revenue of $85.79M. Earnings per share were $0.64. Analysts had estimated an EPS of $0.55.

In a different note, On Jul 5, 2016, Barclays said it Downgrades its rating on Ellie Mae Inc. The shares have been rated ‘Equal-weight’ by the firm.

Ellie Mae Inc (ELLI) made into the market gainers list on Thursdays trading session with the shares advancing 6.46% or 5.98 points. Due to strong positive momentum, the stock ended at $98.5, which is also near the day’s high of $98.85. The stock began the session at $93.02 and the volume stood at 32,42,175 shares. The 52-week high of the shares is $102.63 and the 52 week low is $57.88. The company has a current market capitalization of $2,976 M and it has 3,02,15,306 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, Jonathan Corr (President & CEO) sold 3,500 shares at $91.13 per share price.Also, On Jul 5, 2016, Edgar Luce (Chief Financial Officer) sold 5,000 shares at $92.27 per share price.On Jun 21, 2016, Marina Levinson (director) sold 1,588 shares at $86.06 per share price, according to the Form-4 filing with the securities and exchange commission.

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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