Ebix (NASDAQ:EBIX) had its price target cut by S&P Equity Research from $34.59 to $32.92 in a research report sent to investors on Friday, AnalystRatings.com reports.
Several other research analysts have also recently weighed in on the company. TheStreet raised Ebix from a f rating to a c rating in a research report on Wednesday, September 18th. BMO Capital Markets reduced their price objective on Ebix from $50.00 to $46.00 and set a market perform rating for the company in a research report on Wednesday. Finally, BidaskClub cut Ebix from a sell rating to a strong sell rating in a research report on Friday.
Shares of EBIX stock traded up $1.67 on Friday, reaching $34.50. 951,900 shares of the stock were exchanged, compared to its average volume of 324,461. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.50 and a quick ratio of 1.36. The stock has a market cap of $1.11 billion, a PE ratio of 9.25 and a beta of 1.47. The stock has a 50 day moving average price of $40.62 and a 200 day moving average price of $44.11. Ebix has a one year low of $32.15 and a one year high of $63.89.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.41). The firm had revenue of $147.20 million for the quarter, compared to analyst estimates of $149.43 million. Ebix had a return on equity of 22.39% and a net margin of 14.64%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share.
In other news, major shareholder Fondation Rennes sold 22,145 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $30.20, for a total transaction of $668,779.00. Following the completion of the transaction, the insider now directly owns 3,163,126 shares of the company’s stock, valued at $95,526,405.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 14.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of EBIX. Amundi Pioneer Asset Management Inc. boosted its position in Ebix by 43.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 15,838 shares of the technology company’s stock valued at $782,000 after purchasing an additional 4,800 shares during the last quarter. First Hawaiian Bank boosted its position in Ebix by 76.4% during the second quarter. First Hawaiian Bank now owns 5,450 shares of the technology company’s stock valued at $274,000 after purchasing an additional 2,360 shares during the last quarter. West Coast Financial LLC boosted its position in Ebix by 5.8% during the second quarter. West Coast Financial LLC now owns 57,936 shares of the technology company’s stock valued at $2,910,000 after purchasing an additional 3,166 shares during the last quarter. Taylor Frigon Capital Management LLC acquired a new position in Ebix during the second quarter valued at approximately $1,373,000. Finally, Peregrine Capital Management LLC boosted its position in Ebix by 12.4% during the second quarter. Peregrine Capital Management LLC now owns 199,701 shares of the technology company’s stock valued at $10,029,000 after purchasing an additional 21,993 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other 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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