Ebix (NASDAQ:EBIX) Issues Earnings Results

Ebix (NASDAQ:EBIX) posted its earnings results on Thursday. The technology company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06), Morningstar.com reports. The business 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 company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS.

Shares of Ebix stock traded down $0.68 on Friday, reaching $38.99. The stock had a trading volume of 323,695 shares, compared to its average volume of 386,881. The firm’s 50 day moving average price is $46.41. The company has a quick ratio of 1.46, a current ratio of 1.36 and a debt-to-equity ratio of 1.22. Ebix has a 1 year low of $37.61 and a 1 year high of $81.50. The stock has a market cap of $1.22 billion, a PE ratio of 10.45 and a beta of 1.47.

EBIX has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Ebix from $52.00 to $50.00 and set a “market perform” rating on the stock in a research report on Friday. TheStreet downgraded shares of Ebix from a “c+” rating to a “f” rating in a research report on Thursday, July 18th. Maxim Group reissued a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. Finally, BidaskClub downgraded shares of Ebix from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $36.30.

Institutional investors have recently modified their holdings of the company. Raymond James & Associates bought a new position in shares of Ebix in the 4th quarter valued at $298,000. Dimensional Fund Advisors LP increased its holdings in Ebix by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,593 shares of the technology company’s stock valued at $30,798,000 after purchasing an additional 121,500 shares during the period. Geode Capital Management LLC increased its holdings in Ebix by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 265,628 shares of the technology company’s stock valued at $11,305,000 after purchasing an additional 20,106 shares during the period. Bank of America Corp DE increased its holdings in Ebix by 193.5% in the fourth quarter. Bank of America Corp DE now owns 26,538 shares of the technology company’s stock valued at $1,130,000 after purchasing an additional 17,495 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Ebix by 352.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,614 shares of the technology company’s stock valued at $324,000 after purchasing an additional 5,931 shares during the period. 75.57% of the stock is currently owned by hedge funds and other institutional investors.

About Ebix

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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Earnings History for Ebix (NASDAQ:EBIX)

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