Ebix (EBIX) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Ebix (NASDAQ:EBIX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations. “
Several other research analysts also recently commented on EBIX. BidaskClub raised Ebix from a buy rating to a strong-buy rating in a research note on Saturday, February 17th. Craig Hallum reissued a buy rating and set a $110.00 target price (up previously from $87.00) on shares of Ebix in a research note on Monday, March 5th. Finally, Sidoti boosted their target price on Ebix from $88.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Ebix presently has a consensus rating of Buy and a consensus price target of $95.67.
Ebix (NASDAQ:EBIX) last issued its earnings results on Thursday, March 1st. The technology company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The firm had revenue of $104.68 million during the quarter, compared to the consensus estimate of $96.33 million. Ebix had a return on equity of 20.67% and a net margin of 27.65%. sell-side analysts forecast that Ebix will post 3.9 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, February 27th. Ebix’s dividend payout ratio (DPR) is currently 9.46%.
In other news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $77.45, for a total transaction of $271,075.00. Following the sale, the executive vice president now directly owns 63,971 shares in the company, valued at $4,954,553.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new stake in Ebix in the third quarter valued at approximately $203,000. Amalgamated Bank bought a new stake in Ebix in the third quarter valued at approximately $214,000. Janus Henderson Group PLC bought a new stake in Ebix in the third quarter valued at approximately $214,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Ebix by 187.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,301 shares of the technology company’s stock valued at $215,000 after acquiring an additional 2,153 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Ebix by 32.9% in the third quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock valued at $227,000 after acquiring an additional 861 shares during the last quarter. Institutional investors own 64.03% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2018/03/11/ebix-ebix-cut-to-hold-at-zacks-investment-research.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ebix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix and related companies with MarketBeat.com's FREE daily email newsletter.