Ebix Inc. (EBIX) Reaches New 1-Year High at $51.43
Ebix Inc. (NASDAQ:EBIX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.43 and last traded at $51.17, with a volume of 290,123 shares changing hands. The stock had previously closed at $49.14.
Separately, Tigress Financial upgraded shares of Ebix from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 19th.
The firm has a market cap of $1.68 billion and a price-to-earnings ratio of 21.00. The company has a 50 day moving average of $47.05 and a 200-day moving average of $40.49. Ebix shares are going to split on the morning of Monday, August 1st. The 3-1 split was announced on Monday, May 23rd. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 29th.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. The firm earned $71.10 million during the quarter, compared to analysts’ expectations of $69.35 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Ebix Inc. will post $2.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, May 26th.
In related news, CFO Robert F. Kerris sold 1,211 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $47.73, for a total value of $57,801.03. Following the transaction, the chief financial officer now directly owns 4,671 shares in the company, valued at $222,946.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hans Ueli Keller sold 3,684 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $45.49, for a total transaction of $167,585.16. Following the completion of the transaction, the director now owns 69,753 shares in the company, valued at $3,173,063.97. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of EBIX. LSV Asset Management boosted its position in Ebix by 42.5% in the fourth quarter. LSV Asset Management now owns 39,900 shares of the company’s stock valued at $1,308,000 after buying an additional 11,900 shares during the period. California State Teachers Retirement System boosted its position in Ebix by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 49,639 shares of the company’s stock valued at $1,628,000 after buying an additional 876 shares during the period. California Public Employees Retirement System boosted its position in Ebix by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 168,600 shares of the company’s stock valued at $5,528,000 after buying an additional 1,100 shares during the period. Finally, Morgan Stanley boosted its position in Ebix by 23.0% in the fourth quarter. Morgan Stanley now owns 274,813 shares of the company’s stock valued at $9,011,000 after buying an additional 51,443 shares during the period.
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 operation through four channels: Exchanges, Carrier Systems, Broker Systems, and Business Process Outsourcing.
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