Ebix (NASDAQ:EBIX) Upgraded to C by TheStreet

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TheStreet upgraded shares of Ebix (NASDAQ:EBIX) from a f rating to a c rating in a research report report published on Wednesday, September 18th, TheStreetRatingsTable reports.

EBIX has been the topic of several other research reports. BMO Capital Markets decreased their price target on shares of Ebix from $52.00 to $50.00 and set a market perform rating on the stock in a research report on Friday, August 9th. BidaskClub raised shares of Ebix from a sell rating to a hold rating in a research report on Saturday, September 14th.

NASDAQ:EBIX traded up $0.69 during mid-day trading on Wednesday, reaching $39.41. The stock had a trading volume of 635,283 shares, compared to its average volume of 301,821. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.57 and a beta of 1.47. Ebix has a 1-year low of $33.71 and a 1-year high of $63.89. The stock’s 50 day simple moving average is $39.62 and its two-hundred day simple moving average is $45.63. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.36 and a quick ratio of 1.36.

Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.06). The firm had revenue of $144.28 million during the quarter, compared to analyst estimates of $150.41 million. Ebix had a return on equity of 22.55% and a net margin of 16.72%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Tuesday, September 3rd. Ebix’s dividend payout ratio is currently 8.04%.

In related news, major shareholder Fondation Rennes sold 65,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $34.41, for a total transaction of $2,236,650.00. Following the transaction, the insider now directly owns 3,163,126 shares of the company’s stock, valued at $108,843,165.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 140,000 shares of company stock worth $4,916,033. Insiders own 14.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in EBIX. Ashford Capital Management Inc. increased its holdings in Ebix by 10.6% during the second quarter. Ashford Capital Management Inc. now owns 516,786 shares of the technology company’s stock worth $25,953,000 after buying an additional 49,510 shares during the last quarter. Janus Henderson Group PLC boosted its position in Ebix by 55.1% during the second quarter. Janus Henderson Group PLC now owns 17,171 shares of the technology company’s stock worth $862,000 after purchasing an additional 6,098 shares during the period. Jefferies Group LLC bought a new position in Ebix during the second quarter worth about $1,533,000. First Hawaiian Bank boosted its position in shares of Ebix by 76.4% in the second quarter. First Hawaiian Bank now owns 5,450 shares of the technology company’s stock valued at $274,000 after acquiring an additional 2,360 shares during the period. Finally, Tealwood Asset Management Inc. boosted its position in shares of Ebix by 75.8% in the second quarter. Tealwood Asset Management Inc. now owns 98,837 shares of the technology company’s stock valued at $4,964,000 after acquiring an additional 42,601 shares during the period. Institutional investors own 76.96% of the company’s stock.

About Ebix

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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