Ebix, Inc. (EBIX) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Ebix, Inc. (NASDAQ:EBIX) announced its earnings results on Tuesday, August 8th. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07, Morningstar.com reports. Ebix had a net margin of 30.69% and a return on equity of 22.02%. The company had revenue of $87.39 million during the quarter, compared to the consensus estimate of $81.35 million.
Shares of Ebix (NASDAQ:EBIX) traded down 0.26% during midday trading on Friday, hitting $56.80. 129,879 shares of the stock traded hands. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 18.50 and a beta of 1.76. Ebix has a 52 week low of $52.38 and a 52 week high of $65.10. The firm’s 50-day moving average is $56.60 and its 200 day moving average is $58.22.
A number of equities analysts have weighed in on EBIX shares. Zacks Investment Research downgraded shares of Ebix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub raised shares of Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th.
In other Ebix news, VP Graham John Prior sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the completion of the transaction, the vice president now owns 18,506 shares in the company, valued at approximately $1,023,936.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.00% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its stake in shares of Ebix by 69.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock valued at $101,000 after buying an additional 765 shares during the period. Victory Capital Management Inc. increased its stake in shares of Ebix by 69.1% in the first quarter. Victory Capital Management Inc. now owns 2,229 shares of the technology company’s stock valued at $137,000 after buying an additional 911 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of Ebix during the second quarter valued at approximately $121,000. Creative Planning increased its stake in shares of 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 during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Ebix by 195.5% in the first quarter. LS Investment Advisors LLC now owns 2,494 shares of the technology company’s stock valued at $153,000 after buying an additional 1,650 shares during the period. 65.31% of the stock is owned by institutional investors.
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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