Ebix (NASDAQ:EBIX) had its price target cut by equities researchers at S&P Equity Research from $34.59 to $32.92 in a report issued on Friday, November 15th, AnalystRatings.com reports. S&P Equity Research’s target price would indicate a potential upside of 1.20% from the stock’s current price.
Several other analysts also recently commented on EBIX. BMO Capital Markets decreased their price objective on shares of Ebix from $50.00 to $46.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. TheStreet upgraded shares of Ebix from a “f” rating to a “c” rating in a research report on Wednesday, September 18th. Finally, BidaskClub cut shares of Ebix from a “sell” rating to a “strong sell” rating in a research note on Friday, November 15th.
Shares of Ebix stock traded up $0.84 during trading on Friday, reaching $32.53. 473,800 shares of the company were exchanged, compared to its average volume of 523,471. The business has a 50-day moving average price of $39.46 and a 200-day moving average price of $43.52. The firm has a market capitalization of $966.41 million, a price-to-earnings ratio of 8.72 and a beta of 1.47. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.22. Ebix has a twelve month low of $31.06 and a twelve month high of $63.89.
Ebix (NASDAQ:EBIX) last released its quarterly 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). Ebix had a net margin of 14.64% and a return on equity of 22.39%. The firm had revenue of $147.20 million for the quarter, compared to analysts’ expectations of $149.43 million. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis.
A number of large investors have recently modified their holdings of EBIX. Amundi Pioneer Asset Management Inc. lifted its position in shares of Ebix by 43.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 15,838 shares of the technology company’s stock worth $782,000 after buying an additional 4,800 shares during the period. First Hawaiian Bank grew its stake in shares of Ebix by 76.4% in the 2nd quarter. First Hawaiian Bank now owns 5,450 shares of the technology company’s stock valued at $274,000 after buying an additional 2,360 shares during the period. West Coast Financial LLC grew its stake in shares of Ebix by 5.8% in the 2nd quarter. West Coast Financial LLC now owns 57,936 shares of the technology company’s stock valued at $2,910,000 after buying an additional 3,166 shares during the period. Taylor Frigon Capital Management LLC acquired a new stake in shares of Ebix in the 2nd quarter valued at about $1,373,000. Finally, Peregrine Capital Management LLC grew its stake in shares of Ebix by 12.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 199,701 shares of the technology company’s stock valued at $10,029,000 after buying an additional 21,993 shares during the period. 77.71% of the stock is currently 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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