BidaskClub Downgrades Ebix (NASDAQ:EBIX) to Strong Sell

Ebix (NASDAQ:EBIX) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price target on Ebix from $52.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Maxim Group restated a “buy” rating on shares of Ebix in a research note on Thursday, May 9th. Finally, TheStreet cut Ebix from a “c+” rating to a “f” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.30.

Ebix stock opened at $35.08 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.46 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $44.91 and its two-hundred day simple moving average is $49.89. Ebix has a 12 month low of $33.87 and a 12 month high of $81.50. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 9.40 and a beta of 1.47.

Ebix (NASDAQ:EBIX) last released its earnings results on Thursday, August 8th. The technology company reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.06). Ebix had a return on equity of 22.55% and a net margin of 16.72%. The company had revenue of $144.28 million during the quarter, compared to the consensus estimate of $150.41 million. During the same period last year, the firm posted $0.92 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts predict that Ebix will post 4.41 EPS for the current year.

Several hedge funds have recently bought and sold shares of EBIX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ebix by 64.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock valued at $100,000 after acquiring an additional 780 shares during the last quarter. Advisor Group Inc. increased its position in Ebix by 70.8% during the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after acquiring an additional 923 shares during the last quarter. Bank of Montreal Can increased its position in Ebix by 265.7% during the second quarter. Bank of Montreal Can now owns 2,699 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,961 shares during the last quarter. Bremer Bank National Association purchased a new stake in Ebix during the first quarter valued at $167,000. Finally, KBC Group NV increased its position in Ebix by 61.9% during the second quarter. KBC Group NV now owns 3,527 shares of the technology company’s stock valued at $177,000 after acquiring an additional 1,348 shares during the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.

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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