Wasatch Advisors Inc. Has $17.89 Million Position in Ebix, Inc. (EBIX)
Wasatch Advisors Inc. boosted its stake in shares of Ebix, Inc. (NASDAQ:EBIX) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,108 shares of the technology company’s stock after acquiring an additional 20,656 shares during the quarter. Wasatch Advisors Inc. owned 0.87% of Ebix worth $17,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of EBIX. Riverhead Capital Management LLC lifted its holdings in Ebix by 69.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock worth $101,000 after buying an additional 765 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in Ebix during the 2nd quarter valued at approximately $121,000. Victory Capital Management Inc. increased its position in Ebix by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,621 shares of the technology company’s stock valued at $141,000 after buying an additional 392 shares in the last quarter. Pinebridge Investments L.P. increased its position in Ebix by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock valued at $154,000 after buying an additional 32 shares in the last quarter. Finally, US Bancorp DE increased its position in Ebix by 10.5% during the 2nd quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock valued at $161,000 after buying an additional 285 shares in the last quarter. Institutional investors own 62.12% of the company’s stock.
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EBIX has been the subject of a number of analyst reports. William Blair initiated coverage on Ebix in a research report on Wednesday, September 27th. They set an “outperform” rating for the company. Zacks Investment Research raised Ebix from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Monday. Finally, Craig Hallum reaffirmed a “buy” rating and set a $87.00 price objective (up previously from $80.00) on shares of Ebix in a research report on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.50.
Ebix, Inc. (NASDAQ:EBIX) traded down $0.35 during trading on Thursday, hitting $76.10. The company’s stock had a trading volume of 132,100 shares, compared to its average volume of 181,123. The company has a market cap of $2,380.00, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.75. Ebix, Inc. has a twelve month low of $52.40 and a twelve month high of $76.65. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 29th. Ebix’s payout ratio is 9.71%.
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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