JT Stratford LLC Cuts Stake in Ebix, Inc. (EBIX)
JT Stratford LLC reduced its position in Ebix, Inc. (NASDAQ:EBIX) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,542 shares of the technology company’s stock after selling 2,149 shares during the quarter. Ebix accounts for approximately 1.7% of JT Stratford LLC’s investment portfolio, making the stock its 18th largest holding. JT Stratford LLC owned approximately 0.14% of Ebix worth $2,455,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Ebix by 0.4% during the 2nd quarter. FMR LLC now owns 4,724,102 shares of the technology company’s stock worth $254,630,000 after acquiring an additional 18,497 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Ebix by 120,181.3% in the 1st quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock valued at $170,625,000 after purchasing an additional 2,783,398 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ebix by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock valued at $128,830,000 after purchasing an additional 99,789 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Ebix by 34.7% in the 2nd quarter. First Trust Advisors LP now owns 891,181 shares of the technology company’s stock valued at $48,035,000 after purchasing an additional 229,511 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Ebix by 4.3% in the 1st quarter. State Street Corp now owns 597,053 shares of the technology company’s stock valued at $36,572,000 after purchasing an additional 24,823 shares in the last quarter. Hedge funds and other institutional investors own 61.95% of the company’s stock.
Shares of Ebix, Inc. (NASDAQ:EBIX) traded up 0.08% during trading on Wednesday, reaching $64.90. 38,413 shares of the company’s stock were exchanged. Ebix, Inc. has a 12-month low of $52.40 and a 12-month high of $66.50. The stock has a 50-day moving average price of $58.94 and a 200 day moving average price of $57.98. The company has a market capitalization of $2.04 billion, a P/E ratio of 21.14 and a beta of 1.79.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07. Ebix had a return on equity of 22.02% and a net margin of 30.69%. The business had revenue of $87.39 million during the quarter, compared to the consensus estimate of $81.35 million. Equities analysts expect that Ebix, Inc. will post $3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Tuesday, August 29th. Ebix’s dividend payout ratio is presently 9.77%.
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A number of equities analysts have recently issued reports on EBIX shares. William Blair assumed coverage on shares of Ebix in a research note on Wednesday, September 27th. They set an “outperform” rating on the stock. BidaskClub raised shares of Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Ebix from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th.
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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