Ebix (NASDAQ:EBIX) Lifted to Sell at BidaskClub

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

Several other brokerages have also recently commented on EBIX. TheStreet cut shares of Ebix from a c+ rating to a f rating in a research note on Thursday, July 18th. BMO Capital Markets lowered their target price on shares of Ebix from $52.00 to $50.00 and set a market perform rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $36.30.

Shares of NASDAQ EBIX opened at $41.25 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.15 billion, a P/E ratio of 11.06 and a beta of 1.48. Ebix has a 52 week low of $33.71 and a 52 week high of $81.50. The business has a 50-day simple moving average of $38.66 and a two-hundred day simple moving average of $47.31.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.06). Ebix had a net margin of 16.72% and a return on equity of 22.55%. The company had revenue of $144.28 million for the quarter, compared to the consensus estimate of $150.41 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Ebix will post 4.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, September 4th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.73%. Ebix’s dividend payout ratio (DPR) is presently 8.04%.

In related news, major shareholder Fondation Rennes sold 65,000 shares of Ebix stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $34.41, for a total transaction of $2,236,650.00. Following the completion of the sale, the insider now owns 3,163,126 shares of the company’s stock, valued at $108,843,165.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 140,000 shares of company stock valued at $4,916,033 in the last three months. 14.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ebix by 64.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock worth $100,000 after buying an additional 780 shares in the last quarter. Advisor Group Inc. grew its position in Ebix by 70.8% in the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock worth $113,000 after acquiring an additional 923 shares in the last quarter. Bank of Montreal Can increased its stake in Ebix by 265.7% in 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 bought a new position in Ebix in the first quarter valued at $167,000. Finally, KBC Group NV increased its stake in Ebix by 61.9% in 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. 76.97% of the stock is currently 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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