Ebix (NASDAQ:EBIX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Ebix from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut shares of Ebix from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Craig Hallum restated a “buy” rating and set a $110.00 price objective (up from $87.00) on shares of Ebix in a research note on Monday, March 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ebix has a consensus rating of “Buy” and a consensus target price of $95.67.
EBIX stock opened at $74.30 on Thursday. The company has a market capitalization of $2.38 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.94 and a beta of 1.75. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. Ebix has a 52 week low of $52.40 and a 52 week high of $87.50.
Ebix (NASDAQ:EBIX) last released its earnings results on Wednesday, May 9th. The technology company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). Ebix had a return on equity of 19.54% and a net margin of 25.54%. The company had revenue of $108.23 million during the quarter, compared to analyst estimates of $106.81 million. The company’s revenue was up 36.8% on a year-over-year basis. equities research analysts forecast that Ebix will post 3.9 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in Ebix during the 1st quarter valued at approximately $101,000. SG Americas Securities LLC acquired a new stake in Ebix during the 1st quarter valued at approximately $145,000. Affinity Investment Advisors LLC acquired a new stake in Ebix during the 1st quarter valued at approximately $227,000. Xact Kapitalforvaltning AB acquired a new stake in Ebix during the 1st quarter valued at approximately $236,000. Finally, Meadow Creek Investment Management LLC lifted its stake in Ebix by 24.1% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,332 shares of the technology company’s stock valued at $264,000 after acquiring an additional 646 shares during the period. Institutional investors and hedge funds own 65.98% of the company’s stock.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare 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 life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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