Ebix (NASDAQ:EBIX) Stock Rating Lowered by TheStreet

Ebix (NASDAQ:EBIX) was downgraded by research analysts at TheStreet from a “c+” rating to a “f” rating in a report issued on Thursday, TheStreetRatingsTable reports.

A number of other brokerages also recently issued reports on EBIX. Maxim Group restated a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Ebix has a consensus rating of “Hold” and a consensus price target of $42.30.

Shares of EBIX traded down $0.80 during mid-day trading on Thursday, reaching $43.78. 397,262 shares of the company were exchanged, compared to its average volume of 358,070. Ebix has a 52 week low of $39.27 and a 52 week high of $89.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $1.36 billion, a PE ratio of 11.74 and a beta of 1.51. The stock has a 50 day simple moving average of $49.12.

Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. Ebix had a return on equity of 22.37% and a net margin of 17.40%. The company had revenue of $142.90 million during the quarter, compared to the consensus estimate of $139.32 million. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. Equities research analysts predict that Ebix will post 4.41 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of EBIX. PNC Financial Services Group Inc. increased its holdings in Ebix by 42.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,029 shares of the technology company’s stock worth $43,000 after purchasing an additional 306 shares in the last quarter. Bremer Bank National Association bought a new stake in Ebix in the first quarter worth approximately $167,000. Pearl River Capital LLC increased its holdings in shares of Ebix by 813.0% during the first quarter. Pearl River Capital LLC now owns 3,652 shares of the technology company’s stock valued at $180,000 after acquiring an additional 3,252 shares in the last quarter. Boston Advisors LLC bought a new stake in shares of Ebix during the first quarter valued at approximately $201,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of Ebix during the first quarter valued at approximately $206,000. Institutional investors own 77.15% 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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