Shares of Ebix Inc (NASDAQ:EBIX) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $99.50.
A number of research analysts recently issued reports on EBIX shares. Maxim Group set a $113.00 price objective on Ebix and gave the company a “buy” rating in a research report on Monday, October 8th. BidaskClub lowered Ebix from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. BMO Capital Markets started coverage on Ebix in a research report on Wednesday, September 26th. They set a “market perform” rating and a $85.00 price objective for the company. Finally, ValuEngine lowered Ebix from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd.
In related news, major shareholder Fondation Rennes sold 12,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $77.20, for a total transaction of $988,160.00. Following the completion of the transaction, the insider now owns 3,425,981 shares in the company, valued at approximately $264,485,733.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.50% of the company’s stock.
Shares of NASDAQ EBIX opened at $54.94 on Wednesday. Ebix has a twelve month low of $53.72 and a twelve month high of $89.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $1.74 billion, a PE ratio of 16.40 and a beta of 1.36.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. Ebix had a return on equity of 19.99% and a net margin of 24.67%. The business had revenue of $124.60 million during the quarter, compared to the consensus estimate of $111.41 million. The firm’s revenue for the quarter was up 42.6% compared to the same quarter last year.
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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