Ebix (NASDAQ:EBIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations. “
Several other equities research analysts have also recently weighed in on EBIX. Sidoti upped their price objective on shares of Ebix from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. BidaskClub raised Ebix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 17th. Finally, Craig Hallum reissued a “buy” rating and set a $110.00 target price (up previously from $87.00) on shares of Ebix in a research note on Monday, March 5th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $95.67.
Ebix (NASDAQ:EBIX) traded up $0.55 on Wednesday, reaching $82.85. 248,409 shares of the company traded hands, compared to its average volume of 206,167. Ebix has a 1-year low of $52.40 and a 1-year high of $87.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market capitalization of $2,610.00, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.67.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Thursday, March 1st. The technology company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.05. Ebix had a net margin of 27.65% and a return on equity of 20.67%. The business had revenue of $104.68 million during the quarter, compared to analysts’ expectations of $96.33 million. sell-side analysts anticipate that Ebix will post 3.9 EPS for the current fiscal year.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,954,553.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in Ebix during the third quarter worth about $203,000. Amalgamated Bank acquired a new position in shares of Ebix in the third quarter valued at approximately $214,000. Janus Henderson Group PLC acquired a new position in shares of Ebix in the third quarter valued at approximately $214,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Ebix by 187.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,301 shares of the technology company’s stock valued at $215,000 after buying an additional 2,153 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Ebix by 32.9% in the third quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock valued at $227,000 after buying an additional 861 shares during the period. 63.97% of the stock is owned by hedge funds and other institutional investors.
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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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