Ebix (NASDAQ:EBIX) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on EBIX. BMO Capital Markets reduced their price objective on shares of Ebix from $43.00 to $34.00 and set a “market perform” rating for the company in a research report on Tuesday, May 12th. Craig Hallum reduced their target price on shares of Ebix from $80.00 to $75.00 in a research report on Thursday, April 30th. Finally, ValuEngine downgraded shares of Ebix from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.31.

EBIX stock traded down $0.13 during trading on Thursday, reaching $20.59. The stock had a trading volume of 140,655 shares, compared to its average volume of 442,418. Ebix has a one year low of $8.75 and a one year high of $53.71. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $17.78 and its two-hundred day moving average is $28.02. The company has a market capitalization of $632.11 million, a price-to-earnings ratio of 6.58 and a beta of 2.15.

Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Monday, May 11th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. Ebix had a net margin of 16.63% and a return on equity of 20.90%. The business had revenue of $137.90 million during the quarter, compared to the consensus estimate of $139.43 million. During the same period in the prior year, the firm posted $1.04 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year.

In other Ebix news, Director Neil D. Eckert acquired 3,595 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was bought at an average cost of $16.09 per share, with a total value of $57,843.55. Following the acquisition, the director now owns 101,987 shares in the company, valued at $1,640,970.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Raina acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average cost of $21.87 per share, with a total value of $437,400.00. Following the completion of the acquisition, the chief executive officer now owns 3,777,749 shares in the company, valued at approximately $82,619,370.63. The disclosure for this purchase can be found here. Insiders have bought a total of 190,174 shares of company stock valued at $2,517,437 over the last three months. Insiders own 14.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EBIX. Amundi Pioneer Asset Management Inc. boosted its holdings in Ebix by 43.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 15,838 shares of the technology company’s stock worth $782,000 after buying an additional 4,800 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Ebix by 113.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 13,170 shares of the technology company’s stock worth $440,000 after buying an additional 7,000 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in Ebix by 167.1% in the 4th quarter. Virginia Retirement Systems ET AL now owns 18,700 shares of the technology company’s stock worth $625,000 after buying an additional 11,700 shares during the period. Magnus Financial Group LLC bought a new position in Ebix in the 4th quarter worth approximately $237,000. Finally, Emerald Advisers LLC bought a new position in Ebix in the 4th quarter worth approximately $34,000. 72.82% of the stock is owned by institutional investors.

Ebix Company Profile

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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