Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Ebix Inc (NASDAQ:EBIX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,200 shares of the technology company’s stock, valued at approximately $2,296,000. Cornerstone Capital Management Holdings LLC. owned about 0.11% of Ebix as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in Ebix by 0.4% in the 2nd quarter. FMR LLC now owns 4,724,102 shares of the technology company’s stock valued at $254,630,000 after purchasing an additional 18,497 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its holdings in Ebix by 55.3% in the 3rd 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 in the last quarter. State Street Corp lifted its position in shares of Ebix by 4.2% during the 2nd quarter. State Street Corp now owns 621,928 shares of the technology company’s stock valued at $33,528,000 after acquiring an additional 24,875 shares during the period. Ashford Capital Management Inc. lifted its position in shares of Ebix by 3.6% during the 2nd quarter. Ashford Capital Management Inc. now owns 497,501 shares of the technology company’s stock valued at $26,815,000 after acquiring an additional 17,382 shares during the period. Finally, Fred Alger Management Inc. lifted its position in shares of Ebix by 2.1% during the 2nd quarter. Fred Alger Management Inc. now owns 494,928 shares of the technology company’s stock valued at $26,677,000 after acquiring an additional 9,984 shares during the period. 62.76% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on EBIX shares. Sidoti lifted their price target on shares of Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Zacks Investment Research downgraded Ebix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. William Blair began coverage on Ebix in a research report on Wednesday, September 27th. They set an “outperform” rating for the company. Finally, Craig Hallum restated a “buy” rating and set a $87.00 price objective (up from $80.00) on shares of Ebix in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $88.67.
Shares of Ebix Inc (EBIX) traded up $0.55 during midday trading on Friday, hitting $81.75. 108,097 shares of the stock traded hands, compared to its average volume of 119,367. Ebix Inc has a one year low of $52.40 and a one year high of $82.00. The stock has a market cap of $2,570.00, a PE ratio of 26.46, a PEG ratio of 2.22 and a beta of 1.74. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.30 annualized dividend and a dividend yield of 0.37%. Ebix’s dividend payout ratio is presently 9.71%.
In other Ebix news, Director Hans U. Benz sold 2,850 shares of the business’s 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 transaction, the director now owns 2,909 shares in the company, valued at approximately $213,229.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leon Royden Thomas D’apice sold 3,500 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $77.45, for a total transaction of $271,075.00. Following the completion of the transaction, the executive vice president now owns 63,971 shares in the company, valued at approximately $4,954,553.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,950 shares of company stock valued at $525,316. 13.80% of the stock is 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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