Ebix Inc (NASDAQ:EBIX) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $44.41 and last traded at $47.91, with a volume of 18814 shares trading hands. The stock had previously closed at $47.22.
Several equities research analysts have issued reports on the stock. Maxim Group set a $113.00 price target on shares of Ebix and gave the company a “buy” rating in a research note on Thursday. ValuEngine lowered shares of Ebix from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. BidaskClub lowered shares of Ebix from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, BMO Capital Markets assumed coverage on shares of Ebix in a research note on Wednesday, September 26th. They issued a “market perform” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Ebix has a consensus rating of “Hold” and an average price target of $97.00.
The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $1.48 billion, a PE ratio of 15.03 and a beta of 1.53.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.03). The business had revenue of $128.64 million during the quarter, compared to analyst estimates of $128.63 million. Ebix had a net margin of 23.85% and a return on equity of 20.55%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts expect that Ebix Inc will post 3.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.30 annualized dividend and a dividend yield of 0.63%. Ebix’s dividend payout ratio is presently 9.46%.
In other news, CEO Robin Raina acquired 1,000 shares of the stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $52.45 per share, for a total transaction of $52,450.00. Following the purchase, the chief executive officer now directly owns 3,599,960 shares of the company’s stock, valued at $188,817,902. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fondation Rennes sold 12,800 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $77.20, for a total transaction of $988,160.00. Following the transaction, the insider now owns 3,425,981 shares in the company, valued at $264,485,733.20. The disclosure for this sale can be found here. 13.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Ebix by 2.2% during the 3rd quarter. FMR LLC now owns 3,827,062 shares of the technology company’s stock worth $302,912,000 after purchasing an additional 83,421 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Ebix by 5.8% during the 3rd quarter. BlackRock Inc. now owns 3,396,207 shares of the technology company’s stock worth $268,811,000 after buying an additional 185,061 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ebix by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,251,861 shares of the technology company’s stock worth $178,234,000 after buying an additional 55,539 shares during the period. First Trust Advisors LP boosted its holdings in shares of Ebix by 9.6% during the 3rd quarter. First Trust Advisors LP now owns 1,237,658 shares of the technology company’s stock worth $97,961,000 after buying an additional 108,900 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ebix by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 625,728 shares of the technology company’s stock worth $47,712,000 after buying an additional 16,590 shares during the period. Institutional investors own 75.50% of the company’s stock.
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About Ebix (NASDAQ:EBIX)
Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare 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 life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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