Ebix Inc (NASDAQ:EBIX) Stock Position Increased by BB&T Securities LLC

BB&T Securities LLC lifted its position in Ebix Inc (NASDAQ:EBIX) by 48.3% during the third quarter, Holdings Channel reports. The institutional investor owned 9,995 shares of the technology company’s stock after buying an additional 3,256 shares during the quarter. BB&T Securities LLC’s holdings in Ebix were worth $417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ebix by 64.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock worth $100,000 after purchasing an additional 780 shares during the period. Advisor Group Inc. raised its position in shares of Ebix by 70.8% during the second quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock worth $113,000 after purchasing an additional 923 shares during the period. Bank of Montreal Can raised its position in shares of Ebix by 265.7% during the second quarter. Bank of Montreal Can now owns 2,699 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,961 shares during the period. KBC Group NV raised its position in shares of Ebix by 61.9% during the second quarter. KBC Group NV now owns 3,527 shares of the technology company’s stock worth $177,000 after purchasing an additional 1,348 shares during the period. Finally, Ellington Management Group LLC acquired a new stake in shares of Ebix during the second quarter worth $201,000. 78.17% of the stock is currently owned by institutional investors.

In other news, major shareholder Fondation Rennes sold 22,145 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $30.20, for a total transaction of $668,779.00. Following the sale, the insider now directly owns 3,163,126 shares of the company’s stock, valued at $95,526,405.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.20% of the stock is owned by insiders.

Shares of Ebix stock opened at $36.39 on Thursday. The stock’s fifty day moving average is $40.99 and its 200-day moving average is $44.27. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.76 and a beta of 1.47. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.22. Ebix Inc has a 12-month low of $33.71 and a 12-month high of $63.89.

Ebix (NASDAQ:EBIX) last announced its earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.41). The company had revenue of $147.20 million for the quarter, compared to analyst estimates of $149.43 million. Ebix had a return on equity of 22.55% and a net margin of 16.72%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share.

A number of brokerages have recently issued reports on EBIX. BMO Capital Markets cut their target price on Ebix to $46.00 and set a “market perform” rating on the stock in a research report on Wednesday. TheStreet raised Ebix from a “f” rating to a “c” rating in a research report on Wednesday, September 18th. Finally, BidaskClub lowered Ebix from a “hold” rating to a “sell” rating in a research report on Friday, October 11th.

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.

Featured Story: How does a reverse stock split work?

Want to see what other hedge funds are holding EBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ebix Inc (NASDAQ:EBIX).

Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

Receive News & Ratings for Ebix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix and related companies with MarketBeat.com's FREE daily email newsletter.