Ebix Inc (NASDAQ:EBIX) Shares Bought by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can grew its stake in Ebix Inc (NASDAQ:EBIX) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,550 shares of the technology company’s stock after purchasing an additional 1,823 shares during the period. Great West Life Assurance Co. Can owned about 0.09% of Ebix worth $1,159,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in Ebix by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 6,130 shares of the technology company’s stock worth $261,000 after purchasing an additional 237 shares in the last quarter. Bank of Montreal Can boosted its position in Ebix by 2.3% in the 4th quarter. Bank of Montreal Can now owns 11,352 shares of the technology company’s stock worth $483,000 after purchasing an additional 251 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Ebix by 3.7% in the 4th quarter. State of Alaska Department of Revenue now owns 7,531 shares of the technology company’s stock worth $320,000 after purchasing an additional 271 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Ebix by 42.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,029 shares of the technology company’s stock worth $43,000 after purchasing an additional 306 shares in the last quarter. Finally, Texas Permanent School Fund boosted its position in Ebix by 3.3% in the 4th quarter. Texas Permanent School Fund now owns 14,733 shares of the technology company’s stock worth $627,000 after purchasing an additional 467 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

In related news, EVP Leon Royden Thomas D’apice sold 5,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $50.92, for a total value of $254,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.50% of the stock is currently owned by corporate insiders.

Several research firms have commented on EBIX. BMO Capital Markets lowered their price objective on Ebix to $62.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. They noted that the move was a valuation call. BidaskClub lowered Ebix from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Ebix presently has a consensus rating of “Hold” and an average price target of $42.30.

Shares of NASDAQ:EBIX traded down $0.37 during midday trading on Friday, reaching $47.50. 348,690 shares of the company’s stock traded hands, compared to its average volume of 258,449. Ebix Inc has a 1 year low of $39.27 and a 1 year high of $89.10. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.73 and a beta of 1.57. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.35 and a quick ratio of 1.35.

Ebix (NASDAQ:EBIX) last announced its earnings results on Friday, March 1st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.16. Ebix had a return on equity of 21.64% and a net margin of 18.71%. The firm had revenue of $136.33 million for the quarter, compared to analyst estimates of $130.43 million. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, sell-side analysts expect that Ebix Inc will post 4.41 earnings per share for the current year.

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Ebix 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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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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