Ebix, Inc. (NASDAQ:EBIX)’s share price hit a new 52-week high on Thursday . The stock traded as high as $75.92 and last traded at $74.40, with a volume of 139300 shares changing hands. The stock had previously closed at $74.35.
EBIX has been the subject of several research reports. William Blair initiated coverage on Ebix in a report on Wednesday, September 27th. They set an “outperform” rating for the company. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Craig Hallum increased their price objective on Ebix to $80.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $87.00.
The firm has a market cap of $2,390.00, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 2.43 and a beta of 1.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.62.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Ebix by 50.3% during the second quarter. Goldman Sachs Group Inc. now owns 103,347 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 34,570 shares during the period. BlackRock Inc. boosted its holdings in shares of Ebix by 120,181.3% in the first quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock worth $170,625,000 after acquiring an additional 2,783,398 shares during the period. Renaissance Technologies LLC bought a new position in shares of Ebix in the first quarter worth $1,218,000. Vanguard Group Inc. boosted its holdings in shares of Ebix by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock worth $128,830,000 after acquiring an additional 99,789 shares during the period. Finally, Century Capital Management LLC boosted its holdings in shares of Ebix by 2.6% in the second quarter. Century Capital Management LLC now owns 85,314 shares of the technology company’s stock worth $4,598,000 after acquiring an additional 2,165 shares during the period. 62.32% of the stock is owned by institutional investors and hedge funds.
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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).
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