EBIX has been the topic of several other reports. BidaskClub downgraded shares of Ebix from a hold rating to a sell rating in a research note on Saturday, October 6th. BMO Capital Markets began coverage on shares of Ebix in a research note on Wednesday, September 26th. They set a market perform rating and a $85.00 target price on the stock. Finally, ValuEngine downgraded shares of Ebix from a buy rating to a hold rating in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $97.00.
EBIX traded down $1.06 during trading hours on Wednesday, hitting $56.25. 9,464 shares of the company’s stock were exchanged, compared to its average volume of 449,285. Ebix has a 12-month low of $53.72 and a 12-month high of $89.10. The company has a market cap of $1.76 billion, a P/E ratio of 17.71 and a beta of 1.35. 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 announced its earnings results on Wednesday, August 8th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The firm had revenue of $124.60 million for the quarter, compared to the consensus estimate of $111.41 million. The firm’s revenue was up 42.6% on a year-over-year basis.
In other Ebix news, major shareholder Fondation Rennes sold 12,800 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $77.20, for a total value of $988,160.00. Following the sale, the insider now directly owns 3,425,981 shares of the company’s stock, valued at approximately $264,485,733.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.50% of the company’s stock.
Large investors have recently made changes to their positions in the business. HRT Financial LLC purchased a new stake in shares of Ebix in the 2nd quarter valued at approximately $217,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Ebix in the 1st quarter valued at approximately $236,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Ebix in the 2nd quarter valued at approximately $236,000. First Hawaiian Bank purchased a new stake in shares of Ebix in the 3rd quarter valued at approximately $245,000. Finally, SG Americas Securities LLC increased its position in shares of Ebix by 103.2% in the 2nd quarter. SG Americas Securities LLC now owns 3,943 shares of the technology company’s stock valued at $301,000 after purchasing an additional 2,003 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.
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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