Ebix (EBIX) Upgraded at Zacks Investment Research

Ebix (NASDAQ:EBIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $91.00 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.00% from the stock’s current price.

According to Zacks, “Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix 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. “

A number of other equities research analysts have also issued reports on EBIX. Craig Hallum reiterated a “buy” rating and issued a $87.00 target price (up previously from $80.00) on shares of Ebix in a research note on Thursday, November 9th. Sidoti increased their target price on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $89.33.

Ebix (NASDAQ EBIX) traded down $0.05 during mid-day trading on Tuesday, hitting $81.25. The stock had a trading volume of 92,860 shares, compared to its average volume of 143,425. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. Ebix has a fifty-two week low of $52.40 and a fifty-two week high of $84.60. The firm has a market capitalization of $2,524.31, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.17 and a beta of 1.74.

In other Ebix news, CFO Sean T. Donaghy sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $75.56, for a total transaction of $45,336.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leon Royden Thomas D’apice sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $77.45, for a total value of $271,075.00. Following the sale, the executive vice president now owns 63,971 shares of the company’s stock, valued at approximately $4,954,553.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,950 shares of company stock valued at $525,316. Insiders own 13.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Ebix by 50.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 103,347 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 34,570 shares in the last quarter. California Public Employees Retirement System grew its stake in Ebix by 5.6% during the 3rd quarter. California Public Employees Retirement System now owns 106,268 shares of the technology company’s stock valued at $6,934,000 after purchasing an additional 5,668 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Ebix by 2.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 133,853 shares of the technology company’s stock valued at $8,734,000 after purchasing an additional 2,827 shares in the last quarter. Wells Fargo & Company MN grew its stake in Ebix by 24.7% during the 2nd quarter. Wells Fargo & Company MN now owns 34,325 shares of the technology company’s stock valued at $1,850,000 after purchasing an additional 6,801 shares in the last quarter. Finally, Piedmont Investment Advisors LLC grew its stake in Ebix by 62.0% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 24,693 shares of the technology company’s stock valued at $1,331,000 after purchasing an additional 9,449 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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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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