A number of other analysts have also recently commented on EBIX. BidaskClub upgraded shares of Ebix from a hold rating to a buy rating in a research note on Saturday, September 15th. ValuEngine cut shares of Ebix from a buy rating to a hold rating in a research note on Wednesday, October 3rd. Finally, BMO Capital Markets initiated coverage on shares of Ebix in a research note on Wednesday, September 26th. They set a market perform rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Ebix currently has a consensus rating of Hold and an average price target of $97.00.
Shares of Ebix stock traded down $0.20 on Thursday, reaching $52.76. 574,000 shares of the company traded hands, compared to its average volume of 217,915. Ebix has a 52 week low of $50.58 and a 52 week high of $89.10. The company has a market capitalization of $1.74 billion, a P/E ratio of 16.62 and a beta of 1.64. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.08.
Ebix (NASDAQ:EBIX) last released its earnings results on Thursday, November 8th. The technology company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.03). Ebix had a net margin of 24.67% and a return on equity of 19.99%. The company had revenue of $128.64 million for the quarter, compared to the consensus estimate of $128.63 million. Ebix’s quarterly revenue was up 38.6% on a year-over-year basis.
In related news, major shareholder Fondation Rennes sold 12,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $77.20, for a total transaction of $988,160.00. Following the sale, the insider now directly owns 3,425,981 shares in the company, valued at approximately $264,485,733.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC purchased a new stake in Ebix in the 3rd quarter worth approximately $147,000. HRT Financial LLC purchased a new stake in Ebix in the 2nd quarter worth approximately $217,000. First Hawaiian Bank purchased a new stake in Ebix in the 3rd quarter worth approximately $245,000. Oppenheimer Asset Management Inc. purchased a new stake in Ebix in the 2nd quarter worth approximately $236,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Ebix in the 1st quarter worth approximately $236,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
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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