Ebix (NASDAQ:EBIX) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday, January 16th, BidAskClub reports.
Several other research analysts have also recently issued reports on the stock. TheStreet raised shares of Ebix from a “f” rating to a “c” rating in a report on Wednesday, September 18th. S&P Equity Research dropped their target price on shares of Ebix from $34.59 to $32.92 in a report on Friday, November 15th. BMO Capital Markets dropped their target price on shares of Ebix from $50.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday, November 13th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $110.00 target price 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 given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.97.
Shares of EBIX opened at $34.43 on Thursday. Ebix has a fifty-two week low of $31.06 and a fifty-two week high of $63.89. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.66 and a beta of 1.34. The firm has a 50-day simple moving average of $33.69 and a 200-day simple moving average of $37.87. 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 (NASDAQ:EBIX) last announced its earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.41). The business had revenue of $147.20 million for the quarter, compared to analyst estimates of $149.43 million. Ebix had a return on equity of 22.39% and a net margin of 14.64%. Ebix’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS.
In related news, Director Hans Ueli Keller purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $32.83 per share, for a total transaction of $32,830.00. Following the acquisition, the director now directly owns 17,428 shares in the company, valued at $572,161.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in EBIX. Villere ST Denis J & Co. LLC boosted its holdings in shares of 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 valued at $68,600,000 after purchasing an additional 365,005 shares during the last quarter. Ashford Capital Management Inc. raised its stake in shares of Ebix by 18.8% in the 3rd quarter. Ashford Capital Management Inc. now owns 614,181 shares of the technology company’s stock valued at $25,857,000 after acquiring an additional 97,395 shares during the period. BlackRock Inc. raised 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 valued at $171,355,000 after acquiring an additional 92,808 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Ebix by 1,122.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 100,784 shares of the technology company’s stock valued at $5,062,000 after acquiring an additional 92,539 shares during the period. Finally, Morgan Stanley raised its stake in shares of Ebix by 364.3% in the 2nd quarter. Morgan Stanley now owns 109,772 shares of the technology company’s stock valued at $5,512,000 after acquiring an additional 86,131 shares during the period. Institutional investors own 76.77% 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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