Ebix (NASDAQ:EBIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations. “

Other equities research analysts also recently issued research reports about the company. Sidoti increased their price objective on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Craig Hallum reissued a “buy” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Ebix in a report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.33.

Ebix (EBIX) traded up $2.60 during midday trading on Wednesday, hitting $83.85. The stock had a trading volume of 156,863 shares, compared to its average volume of 143,853. The firm has a market cap of $2,557.34, a P/E ratio of 27.14, a PEG ratio of 2.20 and a beta of 1.74. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. Ebix has a 12 month low of $52.40 and a 12 month high of $84.60.

In other Ebix news, CFO Sean T. Donaghy sold 600 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leon Royden Thomas D’apice sold 3,500 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $77.45, for a total value of $271,075.00. Following the sale, the executive vice president now directly owns 63,971 shares of the company’s stock, valued at approximately $4,954,553.95. The disclosure for this sale can be found here. Corporate insiders own 13.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in Ebix by 50.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 103,347 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 34,570 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Ebix by 5.6% during the 3rd quarter. California Public Employees Retirement System now owns 106,268 shares of the technology company’s stock valued at $6,934,000 after purchasing an additional 5,668 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Ebix by 2.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 133,853 shares of the technology company’s stock valued at $8,734,000 after purchasing an additional 2,827 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Ebix by 24.7% during the 2nd quarter. Wells Fargo & Company MN now owns 34,325 shares of the technology company’s stock valued at $1,850,000 after purchasing an additional 6,801 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Ebix during the 3rd quarter valued at $2,296,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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Ebix Company Profile

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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