Ebix Inc. (EBIX) Cut to Hold at Zacks Investment Research
Ebix Inc. (NASDAQ:EBIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Ebix Inc is one of the leading international suppliers of software and e-commerce solutions to the insurance industry. The company 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. “
Ebix (NASDAQ:EBIX) traded up 1.48% on Monday, hitting $58.30. The stock had a trading volume of 169,618 shares. The company has a market cap of $1.89 billion, a PE ratio of 22.49 and a beta of 1.68. Ebix has a one year low of $24.72 and a one year high of $59.17. The stock has a 50-day moving average of $56.58 and a 200-day moving average of $50.03.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The business had revenue of $72.60 million for the quarter, compared to analyst estimates of $71.20 million. Ebix had a return on equity of 21.32% and a net margin of 31.11%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Equities analysts expect that Ebix will post $2.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Tuesday, August 30th. Ebix’s dividend payout ratio is currently 11.49%.
Several large investors have recently bought and sold shares of EBIX. BlackRock Fund Advisors raised its stake in Ebix by 3.1% in the second quarter. BlackRock Fund Advisors now owns 1,655,480 shares of the company’s stock valued at $79,297,000 after buying an additional 50,400 shares in the last quarter. Ashford Capital Management Inc. raised its stake in Ebix by 116.4% in the second quarter. Ashford Capital Management Inc. now owns 1,611,099 shares of the company’s stock valued at $25,724,000 after buying an additional 866,499 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Ebix by 99.5% in the second quarter. Ameriprise Financial Inc. now owns 441,507 shares of the company’s stock valued at $21,149,000 after buying an additional 220,214 shares in the last quarter. Atwood & Palmer Inc. raised its stake in Ebix by 2.8% in the second quarter. Atwood & Palmer Inc. now owns 314,096 shares of the company’s stock valued at $15,045,000 after buying an additional 8,653 shares in the last quarter. Finally, Palisade Capital Management LLC NJ raised its stake in Ebix by 54.2% in the first quarter. Palisade Capital Management LLC NJ now owns 311,719 shares of the company’s stock valued at $12,715,000 after buying an additional 109,629 shares in the last quarter. 68.88% of the stock is currently owned by institutional investors and hedge funds.
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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