Man Group plc decreased its position in shares of Ebix Inc (NASDAQ:EBIX) by 94.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,730 shares of the technology company’s stock after selling 137,241 shares during the quarter. Man Group plc’s holdings in Ebix were worth $325,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of EBIX. Amundi Pioneer Asset Management Inc. grew its stake 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 purchasing an additional 4,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ebix by 64.3% in the 2nd 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 during the period. Advisor Group Inc. grew its stake 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. Janus Henderson Group PLC grew its stake in Ebix by 55.1% in the 2nd quarter. Janus Henderson Group PLC now owns 17,171 shares of the technology company’s stock valued at $862,000 after acquiring an additional 6,098 shares during the period. Finally, Swiss National Bank grew its stake in Ebix by 16.8% in the 2nd quarter. Swiss National Bank now owns 46,600 shares of the technology company’s stock valued at $2,340,000 after acquiring an additional 6,700 shares during the period. 76.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on EBIX. S&P Equity Research dropped their price target on shares of Ebix from $34.59 to $32.92 in a research note on Friday, November 15th. BMO Capital Markets decreased their price objective on Ebix from $50.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday, November 13th. TheStreet upgraded Ebix from a “f” rating to a “c” rating in a report on Wednesday, September 18th. BidaskClub lowered Ebix from a “sell” rating to a “strong sell” rating in a report on Friday, November 15th. Finally, Craig Hallum restated a “buy” rating and issued a $110.00 price objective on shares of Ebix in a report on Tuesday, November 12th. One equities research 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. The company currently has a consensus rating of “Hold” and an average target price of $62.97.
Shares of EBIX stock opened at $33.41 on Thursday. The stock’s fifty day moving average is $33.40 and its two-hundred day moving average is $40.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $1.02 billion, a P/E ratio of 7.86 and a beta of 1.36. Ebix Inc has a fifty-two week low of $31.06 and a fifty-two week high of $63.89.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.41). The company had revenue of $147.20 million for the quarter, compared to analysts’ expectations of $149.43 million. Ebix had a return on equity of 22.39% and a net margin of 14.64%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.30 annualized dividend and a yield of 0.90%.
In related news, Director Hans Ueli Keller acquired 1,000 shares of Ebix stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $32.83 per share, for a total transaction of $32,830.00. Following the acquisition, the director now owns 17,428 shares in the company, valued at $572,161.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 14.20% of the stock is currently owned by insiders.
Ebix 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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