Ebix (NASDAQ:EBIX) had its price objective dropped by stock analysts at S&P Equity Research from $34.59 to $32.92 in a research note issued on Friday, November 15th, AnalystRatings.com reports. S&P Equity Research’s target price would indicate a potential upside of 1.23% from the company’s previous close.
A number of other research analysts also recently issued reports on EBIX. TheStreet upgraded Ebix from a “f” rating to a “c” rating in a research note on Wednesday, September 18th. BidaskClub downgraded Ebix from a “sell” rating to a “strong sell” rating in a research note on Friday, November 15th. Finally, 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 note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Ebix currently has an average rating of “Hold” and a consensus price target of $62.97.
Shares of NASDAQ:EBIX opened at $32.52 on Friday. The firm has a market capitalization of $990.82 million, a price-to-earnings ratio of 7.95 and a beta of 1.37. The stock’s 50 day moving average is $37.26 and its 200-day moving average is $41.93. Ebix has a twelve month low of $31.06 and a twelve 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.
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). The company had revenue of $147.20 million during the quarter, compared to analysts’ expectations of $149.43 million. Ebix had a net margin of 14.64% and a return on equity of 22.39%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share.
In other news, Director Hans Ueli Keller purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $32.83 per share, for a total transaction of $32,830.00. Following the purchase, the director now owns 17,428 shares of the company’s stock, valued at $572,161.24. The acquisition 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.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in 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 purchasing an additional 92,808 shares during the period. Vanguard Group Inc. boosted its stake in Ebix by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,344,451 shares of the technology company’s stock worth $117,738,000 after purchasing an additional 10,942 shares during the period. 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 during the period. Ashford Capital Management Inc. boosted its stake in Ebix by 18.8% in the 3rd quarter. Ashford Capital Management Inc. now owns 614,181 shares of the technology company’s stock worth $25,857,000 after purchasing an additional 97,395 shares during the period. Finally, Northern Trust Corp boosted its stake in Ebix by 2.4% in the 2nd quarter. Northern Trust Corp now owns 463,612 shares of the technology company’s stock worth $23,283,000 after purchasing an additional 10,650 shares during the period. Institutional investors and hedge funds own 76.96% of the company’s stock.
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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