Ebix Inc. (EBIX) Reaches New 12-Month High at $54.89
Ebix Inc. (NASDAQ:EBIX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.89 and last traded at $52.56, with a volume of 213,773 shares. The stock had previously closed at $53.32.
Several research analysts have recently issued reports on EBIX shares. Tigress Financial upgraded Ebix from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 19th. Zacks Investment Research lowered Ebix from a “buy” rating to a “hold” rating in a research report on Monday, July 11th.
The firm has a market cap of $1.67 billion and a price-to-earnings ratio of 20.95. The company has a 50 day moving average of $50.17 and a 200 day moving average of $43.15.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. The firm had revenue of $71.10 million for the quarter, compared to analyst estimates of $69.35 million. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, analysts expect that Ebix Inc. will post $0.89 earnings per share for the current fiscal year.
In other Ebix news, Director Hans Ueli Keller sold 3,684 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were 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 directly owns 69,753 shares in the company, valued at $3,173,063.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert F. Kerris sold 1,211 shares of the business’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 transaction of $57,801.03. Following the transaction, the chief financial officer now owns 4,671 shares of the company’s stock, valued at $222,946.83. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased 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 valued at $1,628,000 after buying an additional 876 shares in the last quarter. California Public Employees Retirement System increased 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 valued at $5,528,000 after buying an additional 1,100 shares in the last quarter. Finally, Morgan Stanley increased 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 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 operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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