California Public Employees Retirement System increased its position in Ebix Inc (NASDAQ:EBIX) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,139 shares of the technology company’s stock after buying an additional 10,407 shares during the period. California Public Employees Retirement System owned 0.33% of Ebix worth $4,390,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Ebix by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 6,130 shares of the technology company’s stock worth $261,000 after buying an additional 237 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ebix by 2.3% in the fourth quarter. Bank of Montreal Can now owns 11,352 shares of the technology company’s stock worth $483,000 after buying an additional 251 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Ebix by 3.7% in the fourth quarter. State of Alaska Department of Revenue now owns 7,531 shares of the technology company’s stock worth $320,000 after buying an additional 271 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ebix by 42.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,029 shares of the technology company’s stock worth $43,000 after buying an additional 306 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Ebix by 1.5% in the third quarter. Teachers Advisors LLC now owns 46,152 shares of the technology company’s stock worth $3,653,000 after buying an additional 688 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.
In related news, CEO Robin Raina acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 21st. The shares were acquired at an average cost of $39.71 per share, for a total transaction of $99,275.00. Following the completion of the transaction, the chief executive officer now directly owns 3,602,460 shares in the company, valued at approximately $143,053,686.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.50% of the company’s stock.
Shares of EBIX stock opened at $51.78 on Friday. Ebix Inc has a 1 year low of $39.27 and a 1 year high of $89.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.28. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 13.88 and a beta of 1.61.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Friday, March 1st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Ebix had a return on equity of 21.64% and a net margin of 18.71%. The business had revenue of $136.33 million for the quarter, compared to the consensus estimate of $130.43 million. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.58%. Ebix’s dividend payout ratio (DPR) is presently 8.04%.
EBIX has been the topic of a number of research analyst reports. Maxim Group set a $22.60 target price on Ebix and gave the stock a “buy” rating in a research report on Thursday, November 29th. BidaskClub upgraded Ebix from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 11th. TheStreet downgraded Ebix from a “b-” rating to a “c+” rating in a research report on Friday, December 14th. Finally, BMO Capital Markets decreased their target price on Ebix to $62.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.30.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning 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 finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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