Rhumbline Advisers raised its holdings in shares of Ebix Inc (NASDAQ:EBIX) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,195 shares of the technology company’s stock after buying an additional 1,090 shares during the period. Rhumbline Advisers’ holdings in Ebix were worth $4,209,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Ebix by 1.5% during the first quarter. Wells Fargo & Company MN now owns 51,107 shares of the technology company’s stock valued at $3,807,000 after acquiring an additional 762 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ebix during the first quarter valued at approximately $145,000. Mackay Shields LLC bought a new position in shares of Ebix during the first quarter valued at approximately $1,043,000. Virginia Retirement Systems ET AL raised its holdings in shares of Ebix by 12.3% during the first quarter. Virginia Retirement Systems ET AL now owns 26,400 shares of the technology company’s stock valued at $1,967,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Ebix by 97.6% during the first quarter. Victory Capital Management Inc. now owns 7,712 shares of the technology company’s stock valued at $575,000 after acquiring an additional 3,809 shares in the last quarter. Hedge funds and other institutional investors own 67.85% of the company’s stock.
In other Ebix news, Director Hans U. Benz sold 2,283 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $78.52, for a total value of $179,261.16. Following the completion of the transaction, the director now owns 5,721 shares in the company, valued at $449,212.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.50% of the stock is currently owned by corporate insiders.
EBIX opened at $77.45 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 23.78 and a beta of 1.27. Ebix Inc has a 12-month low of $56.40 and a 12-month high of $89.10.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $124.60 million during the quarter, compared to the consensus estimate of $111.41 million. Ebix had a return on equity of 19.99% and a net margin of 24.67%. The business’s revenue for the quarter was up 42.6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a $0.75 dividend. This is an increase from Ebix’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, August 30th. This represents a $3.00 dividend on an annualized basis and a yield of 3.87%. Ebix’s dividend payout ratio is 9.46%.
EBIX has been the subject of a number of research reports. Maxim Group set a $113.00 price objective on Ebix and gave the stock a “buy” rating in a report on Thursday, August 9th. BidaskClub upgraded Ebix from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $100.00.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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