TheStreet upgraded shares of Ebix (NASDAQ:EBIX) from a f rating to a c rating in a report issued on Wednesday, September 18th, TheStreetRatingsTable reports.
Other analysts also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Ebix from $52.00 to $50.00 and set a market perform rating for the company in a research report on Friday, August 9th. BidaskClub raised shares of Ebix from a sell rating to a hold rating in a research report on Saturday, September 14th.
EBIX traded up $0.69 during midday trading on Wednesday, hitting $39.41. 635,283 shares of the company traded hands, compared to its average volume of 301,821. 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 company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.57 and a beta of 1.47. Ebix has a 52-week low of $33.71 and a 52-week high of $63.89. The business has a 50 day simple moving average of $39.62 and a two-hundred day simple moving average of $45.63.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.06). The company had revenue of $144.28 million for the quarter, compared to analysts’ expectations of $150.41 million. Ebix had a net margin of 16.72% and a return on equity of 22.55%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ebix’s dividend payout ratio (DPR) is presently 8.04%.
In related news, major shareholder Fondation Rennes sold 22,145 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $30.20, for a total transaction of $668,779.00. Following the completion of the sale, the insider now owns 3,163,126 shares of the company’s stock, valued at approximately $95,526,405.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 140,000 shares of company stock valued at $4,916,033. Corporate insiders own 14.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashford Capital Management Inc. boosted its holdings in Ebix by 10.6% in the 2nd quarter. Ashford Capital Management Inc. now owns 516,786 shares of the technology company’s stock worth $25,953,000 after acquiring an additional 49,510 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Ebix by 55.1% during the 2nd quarter. Janus Henderson Group PLC now owns 17,171 shares of the technology company’s stock valued at $862,000 after buying an additional 6,098 shares during the last quarter. Jefferies Group LLC purchased a new position in shares of Ebix during the 2nd quarter valued at approximately $1,533,000. First Hawaiian Bank boosted its stake in shares of Ebix by 76.4% during the 2nd quarter. First Hawaiian Bank now owns 5,450 shares of the technology company’s stock valued at $274,000 after buying an additional 2,360 shares during the last quarter. Finally, Tealwood Asset Management Inc. boosted its stake in shares of Ebix by 75.8% during the 2nd quarter. Tealwood Asset Management Inc. now owns 98,837 shares of the technology company’s stock valued at $4,964,000 after buying an additional 42,601 shares during the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.
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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