Ebix (NASDAQ:EBIX) had its price target cut by investment analysts at S&P Equity Research from $34.59 to $32.92 in a research report issued to clients and investors on Friday, November 15th, AnalystRatings.com reports. S&P Equity Research’s target price would suggest a potential downside of 0.27% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Ebix from a “sell” rating to a “strong sell” rating in a report on Friday, November 15th. BMO Capital Markets reduced their price target 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. Finally, TheStreet raised shares of Ebix from a “f” rating to a “c” rating in a research note on Wednesday, September 18th. 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 company’s stock. Ebix currently has a consensus rating of “Hold” and an average price target of $62.97.
NASDAQ:EBIX opened at $33.01 on Friday. The business’s fifty day moving average is $37.89 and its 200 day moving average is $42.36. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.50 and a current ratio of 1.50. Ebix has a 52-week low of $31.06 and a 52-week high of $63.89. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 8.85 and a beta of 1.37.
Ebix (NASDAQ:EBIX) last announced its earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.41). Ebix had a net margin of 14.64% and a return on equity of 22.39%. The company had revenue of $147.20 million for the quarter, compared to the consensus estimate of $149.43 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year.
In other news, Director Hans Ueli Keller acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $32.83 per share, for a total transaction of $32,830.00. Following the completion of the acquisition, the director now owns 17,428 shares in the company, valued at $572,161.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Ebix by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,412,071 shares of the technology company’s stock worth $171,355,000 after buying an additional 92,808 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ebix by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,344,451 shares of the technology company’s stock worth $117,738,000 after acquiring an additional 10,942 shares during the last quarter. Villere ST Denis J & Co. LLC boosted its stake in Ebix by 28.9% in the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,629,462 shares of the technology company’s stock worth $68,600,000 after purchasing an additional 365,005 shares in the last quarter. Ashford Capital Management Inc. grew its position in Ebix by 18.8% during the 3rd quarter. Ashford Capital Management Inc. now owns 614,181 shares of the technology company’s stock valued at $25,857,000 after purchasing an additional 97,395 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Ebix by 2.4% during the 2nd quarter. Northern Trust Corp now owns 463,612 shares of the technology company’s stock valued at $23,283,000 after purchasing an additional 10,650 shares in the last quarter. Hedge funds and other institutional investors own 76.96% 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.
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