Ebix Inc (EBIX) Shares Bought by Bank of Montreal Can
Bank of Montreal Can increased its position in Ebix Inc (NASDAQ:EBIX) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,868 shares of the technology company’s stock after buying an additional 178 shares during the period. Bank of Montreal Can’s holdings in Ebix were worth $727,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Creative Planning raised its stake in Ebix by 189.1% in the first quarter. Creative Planning now owns 2,278 shares of the technology company’s stock valued at $140,000 after buying an additional 1,490 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ebix during the fourth quarter valued at approximately $205,000. Capstone Investment Advisors LLC acquired a new stake in Ebix during the fourth quarter valued at approximately $219,000. Brown Advisory Inc. acquired a new stake in Ebix during the fourth quarter valued at approximately $232,000. Finally, Private Advisory Group LLC acquired a new stake in Ebix during the fourth quarter valued at approximately $254,000. 65.22% of the stock is owned by institutional investors.
Shares of Ebix Inc (NASDAQ:EBIX) opened at 55.55 on Thursday. The company’s 50-day moving average is $59.33 and its 200 day moving average is $59.40. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.40 and a beta of 1.76. Ebix Inc has a 1-year low of $44.72 and a 1-year high of $65.10.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Ebix had a net margin of 31.60% and a return on equity of 21.72%. The company had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $81 million. On average, analysts expect that Ebix Inc will post $2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, May 26th. Ebix’s dividend payout ratio is 10.87%.
Several research firms recently commented on EBIX. Zacks Investment Research lowered shares of Ebix from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. Sidoti began coverage on shares of Ebix in a research note on Thursday, February 16th. They set a “buy” rating for the company.
In other news, EVP Leon Royden Thomas D’apice sold 7,500 shares of Ebix stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $60.68, for a total transaction of $455,100.00. Following the completion of the sale, the executive vice president now owns 67,471 shares in the company, valued at approximately $4,094,140.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hans Ueli Keller sold 2,675 shares of Ebix stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $60.42, for a total transaction of $161,623.50. Following the sale, the director now owns 73,253 shares of the company’s stock, valued at approximately $4,425,946.26. The disclosure for this sale can be found here. 13.00% of the stock is owned by insiders.
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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