Ebix (NASDAQ:EBIX) Stock Price Up 5.1%

Ebix Inc (NASDAQ:EBIX) traded up 5.1% during mid-day trading on Friday . The company traded as high as $35.04 and last traded at $34.50, 951,900 shares were traded during trading. An increase of 183% from the average session volume of 336,655 shares. The stock had previously closed at $32.83.

A number of equities analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Ebix from $50.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday. BidaskClub lowered shares of Ebix from a “sell” rating to a “strong sell” rating in a report on Friday. TheStreet upgraded shares of Ebix from a “f” rating to a “c” rating in a report on Wednesday, September 18th. Finally, S&P Equity Research decreased their price target on shares of Ebix from $34.59 to $32.92 in a report on Friday.

The stock’s fifty day simple moving average is $40.62 and its two-hundred day simple moving average is $44.11. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 9.25 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.36 and a current ratio of 1.50.

Ebix (NASDAQ:EBIX) last released its earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.41). Ebix had a return on equity of 22.39% and a net margin of 14.64%. The company had revenue of $147.20 million during the quarter, compared to the consensus estimate of $149.43 million. During the same period in the previous year, the firm posted $0.92 EPS. Ebix’s revenue for the quarter was up 14.5% on a year-over-year basis.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Ebix by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,412,071 shares of the technology company’s stock valued at $171,355,000 after buying an additional 92,808 shares during the period. Vanguard Group Inc. boosted its stake in Ebix by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,344,451 shares of the technology company’s stock valued at $117,738,000 after purchasing an additional 10,942 shares during the period. Villere ST Denis J & Co. LLC boosted its stake in Ebix by 28.9% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,629,462 shares of the technology company’s stock valued at $68,600,000 after purchasing an additional 365,005 shares during the period. Ashford Capital Management Inc. boosted its stake in Ebix by 10.6% during the 2nd quarter. Ashford Capital Management Inc. now owns 516,786 shares of the technology company’s stock valued at $25,953,000 after purchasing an additional 49,510 shares during the period. Finally, Northern Trust Corp boosted its stake in Ebix by 2.4% during the 2nd quarter. Northern Trust Corp now owns 463,612 shares of the technology company’s stock valued at $23,283,000 after purchasing an additional 10,650 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

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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