Ebix (NASDAQ:EBIX) Hits New 12-Month Low After Analyst Downgrade

Ebix Inc (NASDAQ:EBIX) shares hit a new 52-week low during mid-day trading on Thursday after S&P Equity Research lowered their price target on the stock from $34.59 to $32.92. The company traded as low as $33.23 and last traded at $33.40, with a volume of 40001 shares changing hands. The stock had previously closed at $36.39.

EBIX has been the subject of a number of other reports. BMO Capital Markets cut their price target on shares of Ebix from $50.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday. BidaskClub lowered shares of Ebix from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, TheStreet raised shares of Ebix from a “f” rating to a “c” rating in a research note on Wednesday, September 18th.

In other Ebix news, major shareholder Fondation Rennes sold 22,145 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $30.20, for a total transaction of $668,779.00. Following the completion of the sale, the insider now directly owns 3,163,126 shares of the company’s stock, valued at $95,526,405.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of EBIX. Tower Research Capital LLC TRC lifted its stake in Ebix by 228.1% during the third quarter. Tower Research Capital LLC TRC now owns 935 shares of the technology company’s stock valued at $39,000 after buying an additional 650 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ebix by 64.3% in 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. Advisor Group Inc. lifted its position in shares of Ebix by 70.8% in 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. Bank of Montreal Can lifted its position in shares of 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 purchasing an additional 1,961 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of 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 purchasing an additional 1,348 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

The business’s 50-day moving average price is $40.62 and its 200-day moving average price is $44.11. The company has a quick ratio of 1.36, a current ratio of 1.50 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.25 and a beta of 1.47.

Ebix (NASDAQ:EBIX) last posted 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 analysts’ expectations of $149.43 million. Ebix had a return on equity of 22.39% and a net margin of 14.64%. Ebix’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share.

Ebix Company Profile (NASDAQ:EBIX)

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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