Ebix Inc (NASDAQ:EBIX) – Research analysts at William Blair cut their Q1 2018 earnings per share (EPS) estimates for shares of Ebix in a research report issued to clients and investors on Monday. William Blair analyst A. Klauber now forecasts that the technology company will post earnings of $0.86 per share for the quarter, down from their prior estimate of $0.88. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Ebix’s Q2 2018 earnings at $0.87 EPS, Q4 2018 earnings at $1.00 EPS, FY2018 earnings at $3.78 EPS, Q1 2019 earnings at $1.00 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $1.14 EPS and FY2019 earnings at $4.29 EPS.
A number of other equities research analysts have also recently commented on EBIX. Craig Hallum raised their price objective on Ebix to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Ebix from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Monday, November 20th. Finally, Sidoti raised their price objective on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.00.
Institutional investors and hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC raised its stake in shares of Ebix by 69.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock valued at $101,000 after buying an additional 765 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of Ebix in the second quarter valued at $121,000. Victory Capital Management Inc. raised its stake in shares of Ebix by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,621 shares of the technology company’s stock valued at $141,000 after buying an additional 392 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Ebix by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock valued at $154,000 after buying an additional 32 shares during the period. Finally, US Bancorp DE raised its stake in shares of Ebix by 10.5% in the second quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock valued at $161,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 62.76% of the company’s stock.
In related news, CFO Sean T. Donaghy sold 600 shares of Ebix stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $75.56, for a total transaction of $45,336.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hans U. Benz sold 2,850 shares of Ebix stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $73.30, for a total value of $208,905.00. Following the sale, the director now owns 2,909 shares in the company, valued at $213,229.70. The disclosure for this sale can be found here. 13.80% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a $0.075 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.37%. Ebix’s dividend payout ratio is presently 9.71%.
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Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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