Ebix (NASDAQ:EBIX) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

EBIX has been the topic of several other reports. BMO Capital Markets dropped their target price on shares of Ebix from $52.00 to $50.00 and set a “market perform” rating on the stock in a report on Friday, August 9th. TheStreet upgraded shares of Ebix from a “f” rating to a “c” rating in a report on Wednesday, September 18th.

EBIX stock traded up $0.69 during mid-day trading on Friday, hitting $39.41. 635,283 shares of the company were exchanged, compared to its average volume of 293,254. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $1.18 billion, a P/E ratio of 10.57 and a beta of 1.47. The firm’s 50 day simple moving average is $39.62 and its 200 day simple moving average is $45.63. Ebix has a 1-year low of $33.71 and a 1-year high of $63.89.

Ebix (NASDAQ:EBIX) last announced its earnings results on Thursday, August 8th. The technology company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.06). The company had revenue of $144.28 million for 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 business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share.

In other Ebix news, major shareholder Fondation Rennes sold 52,855 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $38.04, for a total transaction of $2,010,604.20. Following the sale, the insider now directly owns 3,163,126 shares in the company, valued at approximately $120,325,313.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 140,000 shares of company stock worth $4,916,033 over the last 90 days. Corporate insiders own 14.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in shares of Ebix by 4.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,595 shares of the technology company’s stock valued at $331,000 after purchasing an additional 299 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Ebix by 1.3% in the first quarter. New York State Common Retirement Fund now owns 23,900 shares of the technology company’s stock valued at $1,180,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ebix by 64.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock valued at $100,000 after purchasing an additional 780 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Ebix by 70.8% in the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after purchasing an additional 923 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of Ebix by 14.1% in the second quarter. Anchor Capital Advisors LLC now owns 8,245 shares of the technology company’s stock valued at $414,000 after purchasing an additional 1,020 shares during the last quarter. 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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