Ebix Inc (NASDAQ:EBIX) declared a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, June 2nd will be paid a dividend of 0.075 per share by the technology company on Tuesday, June 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, June 1st.
Ebix has a payout ratio of 9.4% meaning its dividend is sufficiently covered by earnings.
Shares of EBIX traded down $0.13 during trading hours on Friday, reaching $20.59. The company had a trading volume of 138,396 shares, compared to its average volume of 533,565. The firm has a 50 day simple moving average of $17.66 and a 200-day simple moving average of $28.12. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $640.35 million, a price-to-earnings ratio of 6.53 and a beta of 2.15. Ebix has a 12-month low of $8.75 and a 12-month high of $53.71.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings results on Monday, May 11th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. Ebix had a net margin of 16.63% and a return on equity of 20.90%. The business had revenue of $137.90 million during the quarter, compared to the consensus estimate of $139.43 million. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue was down 3.5% compared to the same quarter last year.
Several equities analysts have weighed in on the stock. Craig Hallum dropped their target price on shares of Ebix from $80.00 to $75.00 in a report on Thursday, April 30th. ValuEngine downgraded shares of Ebix from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. BMO Capital Markets dropped their target price on shares of Ebix from $43.00 to $34.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. Finally, BidaskClub upgraded shares of Ebix from a “sell” rating to a “hold” rating in a report on Thursday. One research 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. The company has a consensus rating of “Hold” and a consensus target price of $47.31.
In other news, CEO Robin Raina purchased 20,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $21.87 per share, with a total value of $437,400.00. Following the purchase, the chief executive officer now directly owns 3,777,749 shares of the company’s stock, valued at $82,619,370.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil D. Eckert purchased 3,595 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $16.09 per share, for a total transaction of $57,843.55. Following the completion of the purchase, the director now directly owns 101,987 shares in the company, valued at $1,640,970.83. The disclosure for this purchase can be found here. Insiders have acquired a total of 190,174 shares of company stock worth $2,517,437 over the last ninety days. 14.20% of the stock is owned by corporate insiders.
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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