Ebix (NASDAQ:EBIX) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.
A number of other analysts have also recently commented on the stock. Maxim Group set a $113.00 target price on shares of Ebix and gave the company a “buy” rating in a report on Monday, October 8th. BMO Capital Markets began coverage on shares of Ebix in a report on Wednesday, September 26th. They set a “market perform” rating and a $85.00 target price for the company. Finally, ValuEngine cut shares of Ebix from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Ebix presently has an average rating of “Hold” and an average target price of $97.00.
Shares of Ebix stock opened at $52.76 on Thursday. The company has a market cap of $1.74 billion, a P/E ratio of 16.44 and a beta of 1.64. Ebix has a twelve month low of $50.58 and a twelve month high of $89.10. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.69 and a current ratio of 1.69.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings data 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). The company had revenue of $128.64 million for the quarter, compared to the consensus estimate of $128.63 million. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year.
In other Ebix 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 completion of the sale, the insider now directly owns 3,425,981 shares of the company’s stock, valued at $264,485,733.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 13.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in EBIX. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Ebix during the third quarter valued at approximately $31,024,000. Nikko Asset Management Americas Inc. purchased a new stake in Ebix during the third quarter valued at approximately $30,610,000. BlackRock Inc. increased its holdings in Ebix by 8.9% during the second quarter. BlackRock Inc. now owns 3,211,146 shares of the technology company’s stock valued at $244,851,000 after buying an additional 262,505 shares during the last quarter. Voya Investment Management LLC increased its holdings in Ebix by 74.8% during the second quarter. Voya Investment Management LLC now owns 587,186 shares of the technology company’s stock valued at $44,773,000 after buying an additional 251,178 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Ebix by 142.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 408,541 shares of the technology company’s stock valued at $31,849,000 after buying an additional 240,000 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.
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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