Ebix (NASDAQ:EBIX) had its target price cut by S&P Equity Research from $34.59 to $32.92 in a research note issued to investors on Friday morning, AnalystRatings.com reports.
Several other research firms also recently issued reports on EBIX. BidaskClub downgraded shares of Ebix from a sell rating to a strong sell rating in a research note on Friday. TheStreet upgraded shares of Ebix from a f rating to a c rating in a research note on Wednesday, September 18th. Finally, BMO Capital Markets decreased their price objective on shares of Ebix from $50.00 to $46.00 and set a market perform rating for the company in a research note on Wednesday, November 13th.
Shares of EBIX stock traded down $0.27 on Friday, reaching $33.90. 35,956 shares of the stock were exchanged, compared to its average volume of 401,181. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average price is $40.13 and its 200 day moving average price is $43.88. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 9.14 and a beta of 1.47. Ebix has a twelve month low of $32.15 and a twelve month high of $63.89.
Ebix (NASDAQ:EBIX) last issued its earnings results on Tuesday, November 12th. The technology company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in Ebix by 228.1% in the third quarter. Tower Research Capital LLC TRC now owns 935 shares of the technology company’s stock valued at $39,000 after acquiring an additional 650 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ebix by 64.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock valued at $100,000 after acquiring an additional 780 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Ebix by 70.8% in the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after buying an additional 923 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Ebix by 265.7% in the second quarter. Bank of Montreal Can now owns 2,699 shares of the technology company’s stock valued at $135,000 after buying an additional 1,961 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Ebix by 61.9% in the second quarter. KBC Group NV now owns 3,527 shares of the technology company’s stock valued at $177,000 after buying an additional 1,348 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.
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.
Featured Article: What is the definition of arbitrage?
Receive News & Ratings for Ebix Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ebix and related companies with MarketBeat.com’s FREE daily email newsletter.