Ebix, Inc. (NASDAQ:EBIX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Separately, Zacks Investment Research downgraded Ebix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 2nd.
Ebix (EBIX) traded up 0.46% on Friday, hitting $54.05. The stock had a trading volume of 213,709 shares. Ebix has a 12 month low of $47.01 and a 12 month high of $65.10. The stock has a market cap of $1.70 billion, a P/E ratio of 17.90 and a beta of 1.76. The company’s 50 day moving average is $55.36 and its 200-day moving average is $58.58.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $81 million. Ebix had a return on equity of 22.76% and a net margin of 32.03%. Analysts forecast that Ebix will post $2.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.075 per share. The ex-dividend date was Friday, May 26th. This represents a $0.30 dividend on an annualized basis and a yield of 0.56%. Ebix’s dividend payout ratio is currently 9.90%.
In other Ebix news, VP Graham John Prior sold 18,500 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the transaction, the vice president now owns 18,506 shares in the company, valued at $1,023,936.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Ebix by 120,181.3% in the first quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock worth $170,625,000 after buying an additional 2,783,398 shares in the last quarter. Norges Bank acquired a new position in shares of Ebix during the fourth quarter worth about $7,916,000. Vanguard Group Inc. increased its position in shares of Ebix by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock worth $128,830,000 after buying an additional 99,789 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Ebix during the first quarter worth about $5,123,000. Finally, First Trust Advisors LP increased its position in shares of Ebix by 4.7% in the first quarter. First Trust Advisors LP now owns 661,670 shares of the technology company’s stock worth $40,527,000 after buying an additional 29,583 shares in the last quarter. Institutional investors own 64.06% of the company’s stock.
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).