BidaskClub Lowers Ebix (EBIX) to Buy

Ebix (NASDAQ:EBIX) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Ebix from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Ebix from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Craig Hallum restated a “buy” rating and set a $110.00 price objective (up from $87.00) on shares of Ebix in a research report on Monday, March 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Ebix currently has an average rating of “Buy” and a consensus target price of $95.67.

Shares of EBIX stock traded down $0.15 on Thursday, hitting $75.45. 819 shares of the stock traded hands, compared to its average volume of 190,227. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.95 and a beta of 1.75. Ebix has a 52 week low of $75.90 and a 52 week high of $76.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.83.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.03). The firm had revenue of $108.23 million for the quarter, compared to the consensus estimate of $106.81 million. Ebix had a net margin of 25.54% and a return on equity of 19.54%. The business’s revenue for the quarter was up 36.8% on a year-over-year basis. equities research analysts expect that Ebix will post 3.9 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC grew its stake in Ebix by 24.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,332 shares of the technology company’s stock valued at $264,000 after acquiring an additional 646 shares in the last quarter. Teachers Advisors LLC grew its stake in Ebix by 1.7% during the fourth quarter. Teachers Advisors LLC now owns 43,323 shares of the technology company’s stock valued at $3,433,000 after acquiring an additional 711 shares in the last quarter. Wells Fargo & Company MN grew its stake in Ebix by 1.5% during the first quarter. Wells Fargo & Company MN now owns 51,107 shares of the technology company’s stock valued at $3,807,000 after acquiring an additional 762 shares in the last quarter. KBC Group NV grew its stake in Ebix by 4.5% during the first quarter. KBC Group NV now owns 18,553 shares of the technology company’s stock valued at $1,382,000 after acquiring an additional 796 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Ebix by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 29,021 shares of the technology company’s stock valued at $2,163,000 after acquiring an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 65.98% of the company’s stock.

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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