Bank of America Corp DE boosted its stake in Ebix Inc (NASDAQ:EBIX) by 193.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,538 shares of the technology company’s stock after purchasing an additional 17,495 shares during the quarter. Bank of America Corp DE owned about 0.08% of Ebix worth $1,130,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Ebix by 2.5% in the third quarter. Vanguard Group Inc. now owns 2,251,861 shares of the technology company’s stock valued at $178,234,000 after purchasing an additional 55,539 shares in the last quarter. First Trust Advisors LP grew its position in Ebix by 7.9% in the fourth quarter. First Trust Advisors LP now owns 1,335,507 shares of the technology company’s stock valued at $56,839,000 after acquiring an additional 97,849 shares during the last quarter. Villere ST Denis J & Co. LLC grew its position in Ebix by 1.0% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 1,081,355 shares of the technology company’s stock valued at $46,022,000 after acquiring an additional 11,094 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ebix by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,593 shares of the technology company’s stock valued at $30,798,000 after acquiring an additional 121,500 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Ebix by 6.3% in the fourth quarter. Bank of New York Mellon Corp now owns 326,072 shares of the technology company’s stock valued at $13,878,000 after acquiring an additional 19,226 shares during the last quarter. 78.00% of the stock is owned by institutional investors and hedge funds.
EBIX has been the topic of a number of recent analyst reports. 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. BidaskClub upgraded Ebix from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Finally, Maxim Group reiterated a “buy” rating on shares of Ebix in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Ebix presently has an average rating of “Hold” and an average target price of $42.30.
Ebix stock opened at $53.65 on Friday. Ebix Inc has a 12-month low of $39.27 and a 12-month 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 stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.38 and a beta of 1.54.
Ebix (NASDAQ:EBIX) last released its earnings results on Thursday, May 9th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. Ebix had a return on equity of 22.62% and a net margin of 17.40%. The firm had revenue of $142.90 million for the quarter, compared to analysts’ expectations of $139.32 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities analysts anticipate that Ebix Inc will post 4.41 earnings per share for the current fiscal year.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 5,000 shares of Ebix stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $50.92, for a total value of $254,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.50% of the company’s stock.
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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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