BidaskClub Upgrades Ebix (EBIX) to Buy

BidaskClub upgraded shares of Ebix (NASDAQ:EBIX) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Maxim Group started coverage on shares of Ebix in a report on Thursday, July 12th. They set a buy rating and a $108.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $100.00.

EBIX opened at $79.80 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.08. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 23.67 and a beta of 1.26. Ebix has a 52-week low of $57.05 and a 52-week high of $89.10.

Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $124.60 million for the quarter, compared to the consensus estimate of $111.41 million. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The firm’s revenue was up 42.6% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.76%. This is a boost from Ebix’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, August 30th. Ebix’s dividend payout ratio is 9.46%.

In other news, Director Hans U. Benz sold 2,283 shares of the stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $78.52, for a total value of $179,261.16. Following the completion of the sale, the director now directly owns 5,721 shares in the company, valued at $449,212.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Ebix by 8.9% in 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. First Trust Advisors LP raised its position in shares of Ebix by 12.9% in the second quarter. First Trust Advisors LP now owns 1,128,758 shares of the technology company’s stock valued at $86,068,000 after buying an additional 128,632 shares during the last quarter. Villere ST Denis J & Co. LLC raised its position in shares of Ebix by 0.4% in the second quarter. Villere ST Denis J & Co. LLC now owns 1,073,271 shares of the technology company’s stock valued at $81,836,000 after buying an additional 3,750 shares during the last quarter. Fred Alger Management Inc. raised its position in shares of Ebix by 15.5% in the second quarter. Fred Alger Management Inc. now owns 701,088 shares of the technology company’s stock valued at $53,458,000 after buying an additional 93,878 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Ebix by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 625,728 shares of the technology company’s stock valued at $47,712,000 after buying an additional 16,590 shares during the last quarter. Institutional investors and hedge funds own 67.85% 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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