Insider Selling: Ebix Inc. (EBIX) CFO Sells $69,346.62 in Stock
Ebix Inc. (NASDAQ:EBIX) CFO Robert F. Kerris sold 1,171 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $59.22, for a total value of $69,346.62. Following the transaction, the chief financial officer now owns 3,500 shares in the company, valued at $207,270. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Ebix Inc. (NASDAQ:EBIX) opened at 58.80 on Thursday. Ebix Inc. has a 12 month low of $28.28 and a 12 month high of $61.00. The stock has a 50 day moving average price of $56.62 and a 200-day moving average price of $52.76. The company has a market capitalization of $1906.00 billion, a price-to-earnings ratio of 21.30 and a beta of 1.75.
Ebix (NASDAQ:EBIX) last posted its earnings results on Wednesday, November 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $73 million. Ebix had a return on equity of 21.72% and a net margin of 31.60%. Analysts expect that Ebix Inc. will post $2.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.075 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.51%. Ebix’s dividend payout ratio is currently 10.87%.
Several large investors have recently bought and sold shares of EBIX. BlackRock Fund Advisors increased 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. P2 Capital Partners LLC increased its stake in shares of Ebix by 0.6% in the third quarter. P2 Capital Partners LLC now owns 1,634,690 shares of the company’s stock worth $92,932,000 after buying an additional 9,626 shares during the period. Ashford Capital Management Inc. increased 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. increased 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. Finally, James Investment Research Inc. increased 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. Institutional investors own 68.94% of the company’s stock.
Separately, Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Thursday, August 11th.
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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