Taylor Frigon Capital Management LLC purchased a new stake in Ebix Inc (NASDAQ:EBIX) in the second quarter, HoldingsChannel reports. The firm purchased 27,355 shares of the technology company’s stock, valued at approximately $1,373,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EBIX. PNC Financial Services Group Inc. raised its position in shares of Ebix by 42.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,029 shares of the technology company’s stock valued at $43,000 after buying an additional 306 shares in the last quarter. Bremer Bank National Association acquired a new stake in shares of Ebix in the first quarter valued at approximately $167,000. Pearl River Capital LLC raised its position in shares of Ebix by 813.0% in the first quarter. Pearl River Capital LLC now owns 3,652 shares of the technology company’s stock valued at $180,000 after buying an additional 3,252 shares in the last quarter. Boston Advisors LLC acquired a new stake in shares of Ebix in the first quarter valued at approximately $201,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Ebix in the first quarter valued at approximately $206,000. Institutional investors own 77.16% of the company’s stock.
A number of equities research analysts have recently weighed in on EBIX shares. Maxim Group reiterated a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, TheStreet cut shares of Hostess Brands from a “b” rating to a “f” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Ebix has an average rating of “Hold” and a consensus target price of $42.30.
NASDAQ:EBIX traded up $1.19 during mid-day trading on Friday, reaching $44.98. The stock had a trading volume of 164,568 shares, compared to its average volume of 292,138. The business has a 50-day simple moving average of $48.65. The stock has a market capitalization of $1.34 billion, a PE ratio of 12.06 and a beta of 1.51. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.27. Ebix Inc has a 12 month low of $39.27 and a 12 month high of $89.10.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $142.90 million for the quarter, compared to analysts’ expectations of $139.32 million. Ebix had a net margin of 17.40% and a return on equity of 22.37%. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Sell-side analysts expect that Ebix Inc will post 4.41 earnings per share for the current fiscal year.
Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning 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 finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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