Other research analysts have also recently issued research reports about the company. TheStreet cut Ebix from a c+ rating to a f rating in a report on Thursday, July 18th. BMO Capital Markets reduced their target price on Ebix from $52.00 to $50.00 and set a market perform rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Ebix currently has an average rating of Hold and a consensus target price of $36.30.
Shares of Ebix stock opened at $44.73 on Friday. Ebix has a twelve month low of $33.71 and a twelve month high of $81.50. The stock has a market capitalization of $1.36 billion, a P/E ratio of 11.99 and a beta of 1.48. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.22. The business’s fifty day moving average price is $38.63 and its 200 day moving average price is $46.84.
The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ebix’s payout ratio is currently 8.04%.
In related news, major shareholder Fondation Rennes sold 22,145 shares of Ebix stock in a transaction on Monday, August 19th. The stock was sold at an average price of $30.20, for a total value of $668,779.00. Following the transaction, the insider now owns 3,163,126 shares in the company, valued at $95,526,405.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 140,000 shares of company stock worth $4,916,033 in the last quarter. 14.20% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its stake in shares of Ebix by 4.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,595 shares of the technology company’s stock worth $331,000 after purchasing an additional 299 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Ebix by 1.3% during the first quarter. New York State Common Retirement Fund now owns 23,900 shares of the technology company’s stock worth $1,180,000 after purchasing an additional 300 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Ebix by 6.6% during the first quarter. Janus Henderson Group PLC now owns 11,073 shares of the technology company’s stock worth $547,000 after purchasing an additional 688 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ebix by 64.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock worth $100,000 after purchasing an additional 780 shares in the last quarter. Finally, Advisor Group Inc. lifted its stake in shares of Ebix by 70.8% during the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock worth $113,000 after purchasing an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.
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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