Ebix (NASDAQ:EBIX) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Ebix (NASDAQ:EBIX) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of Ebix from a c+ rating to a f rating in a research report on Thursday, July 18th. Maxim Group reaffirmed a buy rating on shares of Ebix in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.30.

Shares of Ebix stock traded down $1.23 during trading hours on Thursday, hitting $43.19. The company’s stock had a trading volume of 312,530 shares, compared to its average volume of 335,166. Ebix has a 1-year low of $39.27 and a 1-year high of $89.10. The firm has a fifty day moving average price of $47.63. The firm has a market cap of $1.32 billion, a P/E ratio of 11.58 and a beta of 1.51. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.27.

Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Thursday, May 9th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. Ebix had a net margin of 17.40% and a return on equity of 22.37%. The company had revenue of $142.90 million during the quarter, compared to analyst estimates of $139.32 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. Analysts anticipate that Ebix will post 4.41 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Ebix by 6.3% during the fourth quarter. Bank of New York Mellon Corp now owns 326,072 shares of the technology company’s stock valued at $13,878,000 after buying an additional 19,226 shares during the period. Raymond James & Associates purchased a new position in shares of Ebix during the fourth quarter valued at approximately $298,000. Dimensional Fund Advisors LP lifted its stake in shares of Ebix by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 723,593 shares of the technology company’s stock valued at $30,798,000 after buying an additional 121,500 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ebix by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 265,628 shares of the technology company’s stock valued at $11,305,000 after buying an additional 20,106 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Ebix by 715.0% during the fourth quarter. Two Sigma Advisers LP now owns 66,796 shares of the technology company’s stock worth $2,843,000 after purchasing an additional 58,600 shares during the period. 75.57% of the stock is 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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