Envestnet Asset Management Inc. Purchases 2,656 Shares of Ebix Inc (NASDAQ:EBIX)

Envestnet Asset Management Inc. grew its position in shares of Ebix Inc (NASDAQ:EBIX) by 30.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,409 shares of the technology company’s stock after acquiring an additional 2,656 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ebix were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ebix by 64.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock valued at $100,000 after acquiring an additional 780 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Ebix by 70.8% during the 2nd quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after acquiring an additional 923 shares during the last quarter. Bank of Montreal Can lifted its position in Ebix by 265.7% in the second quarter. Bank of Montreal Can now owns 2,699 shares of the technology company’s stock worth $135,000 after buying an additional 1,961 shares during the last quarter. KBC Group NV lifted its position in Ebix by 61.9% in the second quarter. KBC Group NV now owns 3,527 shares of the technology company’s stock worth $177,000 after buying an additional 1,348 shares during the last quarter. Finally, Ellington Management Group LLC bought a new stake in Ebix in the second quarter worth $201,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Shares of EBIX opened at $36.39 on Thursday. The company has a market cap of $1.25 billion, a PE ratio of 10.09 and a beta of 1.47. The business has a fifty day moving average of $40.99 and a 200 day moving average of $44.27. Ebix Inc has a 52-week low of $33.71 and a 52-week high of $63.89. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.22.

Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.41). The company had revenue of $147.20 million during the quarter, compared to the consensus estimate of $149.43 million. Ebix had a return on equity of 22.55% and a net margin of 16.72%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share.

In related news, major shareholder Fondation Rennes sold 22,145 shares of the firm’s 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 completion of the sale, the insider now directly owns 3,163,126 shares in the company, valued at $95,526,405.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.20% of the stock is owned by company insiders.

EBIX has been the subject of a number of analyst reports. BMO Capital Markets lowered their price target on Ebix to $46.00 and set a “market perform” rating for the company in a research report on Wednesday. TheStreet upgraded Ebix from a “f” rating to a “c” rating in a research report on Wednesday, September 18th. Finally, BidaskClub downgraded Ebix from a “hold” rating to a “sell” rating in a research report on Friday, October 11th.

Ebix 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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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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