EBIX has been the topic of several other reports. BMO Capital Markets dropped their price target on Ebix from $52.00 to $50.00 and set a market perform rating on the stock in a research note on Friday, August 9th. TheStreet cut Ebix from a c+ rating to a f rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $36.30.
Shares of EBIX opened at $41.25 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.22. The firm’s fifty day simple moving average is $38.66 and its two-hundred day simple moving average is $47.31. Ebix has a 12 month low of $33.71 and a 12 month high of $81.50. The stock has a market capitalization of $1.15 billion, a P/E ratio of 11.06 and a beta of 1.48.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). Ebix had a net margin of 16.72% and a return on equity of 22.55%. The business had revenue of $144.28 million during the quarter, compared to analyst estimates of $150.41 million. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Ebix will post 4.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, September 4th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, September 3rd. Ebix’s payout ratio is 8.04%.
In related news, major shareholder Fondation Rennes sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $34.41, for a total transaction of $2,236,650.00. Following the transaction, the insider now directly owns 3,163,126 shares of the company’s stock, valued at approximately $108,843,165.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 140,000 shares of company stock valued at $4,916,033. Insiders own 14.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in EBIX. Bank of America Corp DE increased its holdings in Ebix by 193.5% during the 4th quarter. Bank of America Corp DE now owns 26,538 shares of the technology company’s stock worth $1,130,000 after purchasing an additional 17,495 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ebix by 20.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,593 shares of the technology company’s stock valued at $30,798,000 after acquiring an additional 121,500 shares in the last quarter. Creative Planning bought a new position in Ebix during the 1st quarter valued at $221,000. BNP Paribas Arbitrage SA boosted its holdings in Ebix by 826.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,607 shares of the technology company’s stock worth $277,000 after acquiring an additional 5,002 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Ebix during the 1st quarter worth $337,000. 76.97% of the stock is owned by hedge funds and other institutional investors.
Ebix Company Profile
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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