Ebix, Inc. (NASDAQ:EBIX) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus price objective of $75.00 for the company and are expecting that the company will post $0.74 EPS for the current quarter, according to Zacks. Zacks has also assigned Ebix an industry rank of 170 out of 265 based on the ratings given to its competitors.
A number of brokerages have commented on EBIX. BidaskClub cut Ebix from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Ebix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, William Blair initiated coverage on Ebix in a research report on Wednesday, September 27th. They issued an “outperform” rating for the company.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Ebix by 0.4% during the second quarter. FMR LLC now owns 4,724,102 shares of the technology company’s stock worth $254,630,000 after purchasing an additional 18,497 shares in the last quarter. BlackRock Inc. grew its position in shares of Ebix by 120,181.3% during the first quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock worth $170,625,000 after purchasing an additional 2,783,398 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ebix by 5.0% during the first quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock worth $128,830,000 after purchasing an additional 99,789 shares in the last quarter. First Trust Advisors LP grew its position in shares of Ebix by 34.7% during the second quarter. First Trust Advisors LP now owns 891,181 shares of the technology company’s stock worth $48,035,000 after purchasing an additional 229,511 shares in the last quarter. Finally, State Street Corp grew its position in shares of Ebix by 4.2% during the second quarter. State Street Corp now owns 621,928 shares of the technology company’s stock worth $33,528,000 after purchasing an additional 24,875 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.
Ebix (NASDAQ EBIX) traded up 1.75% on Tuesday, reaching $66.90. The company’s stock had a trading volume of 133,933 shares. Ebix has a one year low of $52.40 and a one year high of $67.10. The stock has a market cap of $2.10 billion, a P/E ratio of 21.79 and a beta of 1.79. The stock has a 50-day moving average of $59.87 and a 200-day moving average of $58.09.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $87.39 million during the quarter, compared to analysts’ expectations of $81.35 million. Ebix had a return on equity of 22.02% and a net margin of 30.69%. On average, analysts predict that Ebix will post $3.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, August 29th. Ebix’s dividend payout ratio is currently 9.77%.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.