Ebix (NASDAQ:EBIX) had its target price decreased by S&P Equity Research from $34.59 to $32.92 in a report released on Friday morning, AnalystRatings.com reports.
Several other brokerages also recently commented on EBIX. BMO Capital Markets dropped their price target on Ebix from $50.00 to $46.00 and set a market perform rating on the stock in a research report on Wednesday. BidaskClub downgraded Ebix from a sell rating to a strong sell rating in a research report on Friday. Finally, TheStreet raised Ebix from a f rating to a c rating in a research report on Wednesday, September 18th.
NASDAQ EBIX traded up $1.67 during trading on Friday, reaching $34.50. 951,900 shares of the company’s stock were exchanged, compared to its average volume of 324,461. The company has a current ratio of 1.50, a quick ratio of 1.36 and a debt-to-equity ratio of 1.22. The company’s fifty day simple moving average is $40.62 and its 200-day simple moving average is $44.11. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.25 and a beta of 1.47. Ebix has a fifty-two week low of $32.15 and a fifty-two week high of $63.89.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.41). The business 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 22.39% and a net margin of 14.64%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share.
In other Ebix news, major shareholder Fondation Rennes sold 22,145 shares of Ebix stock in a transaction that occurred 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 directly owns 3,163,126 shares of the company’s stock, valued at approximately $95,526,405.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 14.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Ebix by 4.7% during the 2nd 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. First Trust Advisors LP grew its holdings in shares of Ebix by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 21,720 shares of the technology company’s stock worth $914,000 after purchasing an additional 536 shares in the last quarter. Anchor Capital Advisors LLC grew its holdings in shares of Ebix by 7.3% during the 3rd quarter. Anchor Capital Advisors LLC now owns 8,850 shares of the technology company’s stock worth $373,000 after purchasing an additional 605 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Ebix by 228.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 935 shares of the technology company’s stock worth $39,000 after purchasing an additional 650 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Ebix by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 9,900 shares of the technology company’s stock worth $417,000 after purchasing an additional 778 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.
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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