Ebix Inc. (EBIX) Posts Earnings Results, Beats Expectations By $0.11 EPS
Ebix Inc. (NASDAQ:EBIX) posted its quarterly earnings data on Wednesday. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.11. The business earned $74.60 million during the quarter, compared to analysts’ expectations of $73 million. Ebix had a return on equity of 22.08% and a net margin of 31.60%.
Shares of Ebix (NASDAQ:EBIX) opened at 59.30 on Friday. Ebix has a 52-week low of $28.28 and a 52-week high of $59.95. The stock has a market capitalization of $1.93 billion, a PE ratio of 22.88 and a beta of 1.75. The stock has a 50 day moving average price of $56.37 and a 200-day moving average price of $52.44.
Separately, Zacks Investment Research cut Ebix from a “buy” rating to a “hold” rating in a research report on Monday, October 10th.
Several hedge funds have recently made changes to their positions in EBIX. BlackRock Fund Advisors boosted its stake in shares of Ebix by 3.1% in the second quarter. BlackRock Fund Advisors now owns 1,655,480 shares of the company’s stock worth $79,297,000 after buying an additional 50,400 shares during the period. Ashford Capital Management Inc. boosted its stake in shares of Ebix by 116.4% in the second quarter. Ashford Capital Management Inc. now owns 1,611,099 shares of the company’s stock worth $25,724,000 after buying an additional 866,499 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Ebix by 2.1% in the third quarter. Ameriprise Financial Inc. now owns 450,886 shares of the company’s stock worth $25,632,000 after buying an additional 9,379 shares during the period. James Investment Research Inc. boosted its stake in shares of Ebix by 86.3% in the third quarter. James Investment Research Inc. now owns 398,786 shares of the company’s stock worth $22,671,000 after buying an additional 184,739 shares during the period. Finally, Atwood & Palmer Inc. boosted its stake in shares of Ebix by 2.8% in the second quarter. Atwood & Palmer Inc. now owns 314,096 shares of the company’s stock worth $15,045,000 after buying an additional 8,653 shares during the period. 68.95% of the stock is owned by hedge funds and other institutional investors.
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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