Russell Investments Group Ltd. bought a new stake in Ebix Inc (NASDAQ:EBIX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,383 shares of the technology company’s stock, valued at approximately $1,531,000. Russell Investments Group Ltd. owned approximately 0.12% of Ebix as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of EBIX. Oppenheimer Asset Management Inc. lifted its holdings in Ebix by 4.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,595 shares of the technology company’s stock worth $331,000 after buying an additional 299 shares during the last quarter. Anchor Capital Advisors LLC lifted its holdings in shares of Ebix by 7.3% in the 3rd quarter. Anchor Capital Advisors LLC now owns 8,850 shares of the technology company’s stock worth $373,000 after purchasing an additional 605 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of Ebix by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 9,900 shares of the technology company’s stock worth $417,000 after purchasing an additional 778 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ebix by 64.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock worth $100,000 after purchasing an additional 780 shares during the last quarter. Finally, Advisor Group Inc. increased its position in Ebix by 70.8% in the 2nd quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after acquiring an additional 923 shares during the period. Institutional investors and hedge funds own 76.96% of the company’s stock.
Shares of Ebix stock opened at $34.78 on Monday. The stock has a market cap of $1.06 billion, a PE ratio of 9.32 and a beta of 1.37. Ebix Inc has a 12 month low of $31.06 and a 12 month high of $63.89. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $38.63 and a 200-day simple moving average of $42.94.
Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.67 earnings per share (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 net margin of 14.64% and a return on equity of 22.39%. Ebix’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.30 annualized dividend and a yield of 0.86%. Ebix’s dividend payout ratio (DPR) is currently 8.04%.
Several equities analysts have recently issued reports on the company. Craig Hallum reiterated a “buy” rating and set a $110.00 price target on shares of Ebix in a research report on Tuesday, November 12th. TheStreet upgraded Ebix from a “f” rating to a “c” rating in a research report on Wednesday, September 18th. BidaskClub cut Ebix from a “sell” rating to a “strong sell” rating in a research report on Friday, November 15th. S&P Equity Research lowered their price target on Ebix from $34.59 to $32.92 in a research report on Friday, November 15th. Finally, BMO Capital Markets decreased their target price on Ebix from $50.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Ebix has a consensus rating of “Hold” and a consensus target price of $62.97.
In related news, Director Hans Ueli Keller bought 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $32.83 per share, for a total transaction of $32,830.00. Following the completion of the acquisition, the director now directly owns 17,428 shares in the company, valued at $572,161.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 14.20% of the stock is owned by company insiders.
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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