Rhumbline Advisers decreased its holdings in Ebix, Inc. (NASDAQ:EBIX) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,778 shares of the technology company’s stock after selling 2,681 shares during the quarter. Rhumbline Advisers owned about 0.20% of Ebix worth $4,031,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. FMR LLC raised its position in Ebix by 0.4% in the second quarter. FMR LLC now owns 4,724,102 shares of the technology company’s stock worth $254,630,000 after acquiring an additional 18,497 shares in the last quarter. Villere ST Denis J & Co. LLC grew its holdings in Ebix by 55.3% in the third quarter. Villere ST Denis J & Co. LLC now owns 912,821 shares of the technology company’s stock valued at $59,561,000 after purchasing an additional 324,950 shares during the last quarter. First Trust Advisors LP grew its holdings in Ebix by 34.7% in the second quarter. First Trust Advisors LP now owns 891,181 shares of the technology company’s stock valued at $48,035,000 after purchasing an additional 229,511 shares during the last quarter. State Street Corp grew its holdings in Ebix by 4.2% in the second quarter. State Street Corp now owns 621,928 shares of the technology company’s stock valued at $33,528,000 after purchasing an additional 24,875 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its holdings in Ebix by 3.6% in the second quarter. Ashford Capital Management Inc. now owns 497,501 shares of the technology company’s stock valued at $26,815,000 after purchasing an additional 17,382 shares during the last quarter. Hedge funds and other institutional investors own 63.05% of the company’s stock.
Shares of Ebix, Inc. (EBIX) opened at $76.25 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $2,412.64, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.51 and a beta of 1.74. Ebix, Inc. has a twelve month low of $52.40 and a twelve month high of $78.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 29th. Ebix’s dividend payout ratio (DPR) is 9.71%.
Several research firms have weighed in on EBIX. Craig Hallum upped their target price on Ebix to $80.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised Ebix from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Monday, November 20th. Finally, William Blair began coverage on Ebix in a report on Wednesday, September 27th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.50.
In related news, CFO Sean T. Donaghy sold 600 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $75.56, for a total transaction of $45,336.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hans U. Benz sold 2,850 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $73.30, for a total value of $208,905.00. Following the sale, the director now directly owns 2,909 shares in the company, valued at approximately $213,229.70. The disclosure for this sale can be found here. 13.80% of the stock is currently owned by corporate insiders.
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Ebix Company Profile
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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