Ebix Inc (NASDAQ:EBIX) Director Neil D. Eckert Buys 3,595 Shares of Stock
Ebix Inc (NASDAQ:EBIX) Director Neil D. Eckert purchased 3,595 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average cost of $16.09 per share, with a total value of $57,843.55. Following the completion of the purchase, the director now directly owns 101,987 shares in the company, valued at $1,640,970.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of EBIX stock traded up $1.59 during trading on Thursday, reaching $17.21. The company had a trading volume of 24,253 shares, compared to its average volume of 1,020,450. The firm’s 50 day simple moving average is $26.60 and its two-hundred day simple moving average is $34.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.55 and a quick ratio of 1.55. Ebix Inc has a one year low of $8.75 and a one year high of $53.94. The company has a market capitalization of $502.62 million, a PE ratio of 5.52 and a beta of 1.64.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Monday, March 2nd. The technology company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.34). Ebix had a net margin of 16.66% and a return on equity of 21.51%. The company had revenue of $146.20 million during the quarter, compared to the consensus estimate of $153.91 million. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.
EBIX has been the subject of a number of recent research reports. BidaskClub downgraded Ebix from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 5th. Craig Hallum reaffirmed a “buy” rating and set a $80.00 price target (down from $110.00) on shares of Ebix in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.97.
Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC bought a new position in Ebix in the 4th quarter worth approximately $29,000. Emerald Advisers LLC bought a new position in Ebix in the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its position in Ebix by 228.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 935 shares of the technology company’s stock worth $39,000 after buying an additional 650 shares during the period. Boston Partners increased its position in Ebix by 5.7% in the 4th quarter. Boston Partners now owns 5,130 shares of the technology company’s stock worth $171,000 after buying an additional 278 shares during the period. Finally, Advisor Group Inc. increased its position in Ebix by 17.0% in the 4th quarter. Advisor Group Inc. now owns 5,843 shares of the technology company’s stock worth $195,000 after buying an additional 850 shares during the period. 71.03% of the stock is currently owned by institutional investors and hedge funds.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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