Ebix Inc. (EBIX) Reaches New 12-Month High at $51.43
Shares of Ebix Inc. (NASDAQ:EBIX) hit a new 52-week high on Monday . The company traded as high as $51.43 and last traded at $51.17, with a volume of 290,123 shares trading hands. The stock had previously closed at $49.14.
Several brokerages have commented on EBIX. Zacks Investment Research downgraded shares of Ebix from a “buy” rating to a “hold” rating in a report on Monday. Tigress Financial upgraded shares of Ebix from an “underperform” rating to a “neutral” rating in a report on Thursday, May 19th.
The company has a 50 day moving average of $47.54 and a 200 day moving average of $40.82. The company has a market cap of $1.76 billion and a PE ratio of 22.06. 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 created shares will be issued to shareholders after the closing bell on Friday, July 29th.
Ebix (NASDAQ:EBIX) last released its quarterly earnings results on Monday, May 9th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $71.10 million for the quarter, compared to the consensus estimate of $69.35 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts anticipate that Ebix Inc. will post $2.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, May 26th.
In other news, Director Hans Ueli Keller sold 3,684 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $45.49, for a total transaction of $167,585.16. Following the sale, the director now directly owns 69,753 shares in the company, valued at $3,173,063.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert F. Kerris sold 1,211 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $47.73, for a total value of $57,801.03. Following the sale, the chief financial officer now owns 4,671 shares in the company, valued at $222,946.83. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake 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 stake in shares of 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 last quarter. California Public Employees Retirement System boosted its stake in shares of 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 last quarter. Finally, Morgan Stanley boosted its stake in shares of 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 last quarter.
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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