Cornerstone Capital Management Holdings LLC. Buys Shares of 35,200 Ebix Inc (EBIX)
Cornerstone Capital Management Holdings LLC. bought a new position in Ebix Inc (NASDAQ:EBIX) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 35,200 shares of the technology company’s stock, valued at approximately $2,296,000. Cornerstone Capital Management Holdings LLC. owned 0.11% of Ebix as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Ebix by 50.3% during the second quarter. Goldman Sachs Group Inc. now owns 103,347 shares of the technology company’s stock valued at $5,571,000 after acquiring an additional 34,570 shares during the period. Renaissance Technologies LLC bought a new stake in Ebix during the first quarter valued at about $1,218,000. Century Capital Management LLC raised its holdings in Ebix by 2.6% during the second quarter. Century Capital Management LLC now owns 85,314 shares of the technology company’s stock valued at $4,598,000 after acquiring an additional 2,165 shares during the period. Wells Fargo & Company MN raised its holdings in Ebix by 24.7% during the second quarter. Wells Fargo & Company MN now owns 34,325 shares of the technology company’s stock valued at $1,850,000 after acquiring an additional 6,801 shares during the period. Finally, Ashford Capital Management Inc. raised its holdings in Ebix by 3.6% during the second quarter. Ashford Capital Management Inc. now owns 497,501 shares of the technology company’s stock valued at $26,815,000 after acquiring an additional 17,382 shares during the period. 62.76% of the stock is currently owned by institutional investors.
A number of research firms have commented on EBIX. Sidoti raised their price target on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research cut Ebix from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Craig Hallum reissued a “buy” rating and set a $87.00 price target (up from $80.00) on shares of Ebix in a report on Thursday, November 9th. Finally, William Blair began coverage on Ebix in a report on Wednesday, September 27th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $87.00.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.30 dividend on an annualized basis and a yield of 0.37%. Ebix’s dividend payout ratio is presently 9.71%.
In other news, Director Hans U. Benz sold 2,850 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $73.30, for a total transaction of $208,905.00. Following the completion of the transaction, the director now owns 2,909 shares in the company, valued at $213,229.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sean T. Donaghy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $75.56, for a total value of $45,336.00. The disclosure for this sale can be found here. 13.80% of the stock is owned by company 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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