Tower Research Capital LLC TRC grew its holdings in shares of Ebix Inc (NASDAQ:EBIX) by 228.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 935 shares of the technology company’s stock after buying an additional 650 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Ebix were worth $39,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of EBIX. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ebix by 64.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock worth $100,000 after buying an additional 780 shares in the last quarter. Advisor Group Inc. lifted its position in Ebix by 70.8% during the 2nd quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock worth $113,000 after buying an additional 923 shares in the last quarter. Bank of Montreal Can lifted its position in Ebix by 265.7% during the 2nd 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 in the last quarter. KBC Group NV lifted its position in Ebix by 61.9% during the 2nd 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 in the last quarter. Finally, Ellington Management Group LLC bought a new stake in Ebix during the 2nd quarter worth about $201,000. 76.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. BidaskClub cut shares of Ebix from a “sell” rating to a “strong sell” rating in a research report on Friday, November 15th. Craig Hallum reissued a “buy” rating and set a $110.00 price target on shares of Ebix in a research report on Tuesday, November 12th. TheStreet raised shares of Ebix from a “f” rating to a “c” rating in a research report on Wednesday, September 18th. BMO Capital Markets cut their price target on shares of Ebix from $50.00 to $46.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Finally, S&P Equity Research cut their price target on shares of Ebix from $34.59 to $32.92 in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.97.
Ebix stock opened at $34.05 on Thursday. The firm has a market capitalization of $1.06 billion, a PE ratio of 9.13 and a beta of 1.37. The company’s 50-day moving average is $38.12 and its 200-day moving average is $42.54. Ebix Inc has a fifty-two week low of $31.06 and a fifty-two week high of $63.89. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.50 and a quick ratio of 1.50.
Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.41). The firm had revenue of $147.20 million for the quarter, compared to analyst estimates of $149.43 million. Ebix had a return on equity of 22.39% and a net margin of 14.64%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, November 29th. This represents a $0.30 annualized dividend and a dividend yield of 0.88%. Ebix’s dividend payout ratio is presently 8.04%.
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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