Ebix, Inc. (NASDAQ:EBIX) Lifted to “Hold” at Zacks Investment Research
Ebix, Inc. (NASDAQ:EBIX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Ebix Inc is one of the leading international suppliers of software and e-commerce solutions to the insurance industry. The company strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations. “
Separately, BidaskClub downgraded shares of Ebix from a “hold” rating to a “sell” rating in a report on Saturday.
Ebix (NASDAQ EBIX) traded up 0.18% during midday trading on Tuesday, reaching $54.95. 181,856 shares of the company’s stock traded hands. Ebix has a 1-year low of $47.45 and a 1-year high of $65.10. The firm’s 50 day moving average price is $55.36 and its 200-day moving average price is $58.58. The company has a market capitalization of $1.73 billion, a PE ratio of 18.20 and a beta of 1.76.
Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $79.10 million for the quarter, compared to the consensus estimate of $81 million. Ebix had a net margin of 32.03% and a return on equity of 22.76%. Equities analysts expect that Ebix will post $2.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, May 26th. Ebix’s dividend payout ratio is currently 9.90%.
In related news, VP Graham John Prior sold 18,500 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the sale, the vice president now owns 18,506 shares of the company’s stock, valued at $1,023,936.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.00% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Ebix during the fourth quarter worth approximately $1,235,000. Comerica Bank boosted its position in shares of Ebix by 6.1% in the fourth quarter. Comerica Bank now owns 23,954 shares of the technology company’s stock worth $1,383,000 after buying an additional 1,370 shares during the last quarter. State Street Corp boosted its position in shares of Ebix by 3.1% in the fourth quarter. State Street Corp now owns 572,230 shares of the technology company’s stock worth $32,646,000 after buying an additional 17,035 shares during the last quarter. A.R.T. Advisors LLC boosted its position in shares of Ebix by 39.3% in the fourth quarter. A.R.T. Advisors LLC now owns 7,800 shares of the technology company’s stock worth $444,000 after buying an additional 2,200 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Ebix during the fourth quarter worth about $268,000. 64.06% of the stock is currently owned by hedge funds and other institutional investors.
Ebix Company Profile
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).
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