Ebix (NASDAQ:EBIX) had its price objective boosted by equities researchers at Sidoti from $88.00 to $90.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Sidoti’s price objective would indicate a potential upside of 12.99% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. William Blair initiated coverage on Ebix in a research note on Wednesday, September 27th. They issued an “outperform” rating for the company. Craig Hallum lifted their price objective on Ebix to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research cut Ebix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $87.00.
Shares of Ebix (EBIX) traded up $0.80 on Tuesday, hitting $79.65. The stock had a trading volume of 135,400 shares, compared to its average volume of 180,856. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2,480.27, a PE ratio of 25.52, a PEG ratio of 2.58 and a beta of 1.74. Ebix has a fifty-two week low of $52.40 and a fifty-two week high of $79.75.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in Ebix by 0.4% during the second quarter. FMR LLC now owns 4,724,102 shares of the technology company’s stock worth $254,630,000 after purchasing an additional 18,497 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its stake in Ebix by 55.3% during the third quarter. Villere ST Denis J & Co. LLC now owns 912,821 shares of the technology company’s stock worth $59,561,000 after purchasing an additional 324,950 shares during the last quarter. State Street Corp lifted its stake in Ebix by 4.2% during the second quarter. State Street Corp now owns 621,928 shares of the technology company’s stock worth $33,528,000 after purchasing an additional 24,875 shares during the last quarter. Ashford Capital Management Inc. lifted its stake in Ebix by 3.6% during the second quarter. Ashford Capital Management Inc. now owns 497,501 shares of the technology company’s stock worth $26,815,000 after purchasing an additional 17,382 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its stake in Ebix by 2.1% during the second quarter. Fred Alger Management Inc. now owns 494,928 shares of the technology company’s stock worth $26,677,000 after purchasing an additional 9,984 shares during the last quarter. Hedge funds and other institutional investors own 62.76% of the company’s stock.
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).
