Ebix Inc. (EBIX) Shares Down 4.4%
Ebix Inc. (NASDAQ:EBIX) fell 4.4% during trading on Tuesday . The stock traded as low as $51.04 and last traded at $51.11, with a volume of 368,603 shares traded. The stock had previously closed at $53.49.
Several brokerages have commented on EBIX. Zacks Investment Research lowered Ebix from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Tigress Financial upgraded Ebix from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 19th.
The stock’s 50 day moving average price is $50.17 and its 200-day moving average price is $43.15. The company has a market capitalization of $1.67 billion and a price-to-earnings ratio of 20.95.
Ebix (NASDAQ:EBIX) last issued its earnings results on Monday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. The company earned $71.10 million during the quarter, compared to analyst estimates of $69.35 million. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities research analysts expect that Ebix Inc. will post $0.89 EPS for the current year.
In related news, Director Hans Ueli Keller sold 3,684 shares of Ebix stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $45.49, for a total value of $167,585.16. Following the transaction, the director now directly owns 69,753 shares in the company, valued at approximately $3,173,063.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert F. Kerris sold 1,211 shares of Ebix stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $47.73, for a total value of $57,801.03. Following the completion of the transaction, 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 institutional investors recently modified their holdings of the company. California Public Employees Retirement System boosted its position 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 worth $5,528,000 after buying an additional 1,100 shares during the last quarter. Morgan Stanley boosted its position in shares of Ebix by 23.0% in the fourth quarter. Morgan Stanley now owns 274,813 shares of the company’s stock worth $9,011,000 after buying an additional 51,443 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position 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 worth $1,628,000 after buying an additional 876 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 operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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