Ebix Inc. (EBIX) Trading 4.7% Higher
Ebix Inc. (NASDAQ:EBIX)’s share price traded up 4.7% during trading on Thursday . The company traded as high as $53.47 and last traded at $53.40, with a volume of 206,803 shares traded. The stock had previously closed at $51.00.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Ebix from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Tigress Financial upgraded shares of Ebix from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 19th.
The company has a market capitalization of $5.30 billion and a price-to-earnings ratio of 66.35. The stock’s 50-day moving average price is $50.26 and its 200 day moving average price is $43.21.
Ebix (NASDAQ:EBIX) last issued 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 company earned $71.10 million during the quarter, compared to the consensus estimate of $69.35 million. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Analysts forecast that Ebix Inc. will post $0.89 earnings per share for the current fiscal year.
In related news, CFO Robert F. Kerris sold 1,211 shares of Ebix stock in a transaction 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 completion of the sale, the chief financial officer now owns 4,671 shares in the company, valued at $222,946.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $167,585.16. Following the completion of the sale, the director now owns 69,753 shares of the company’s stock, valued at approximately $3,173,063.97. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of EBIX. California State Teachers Retirement System raised 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 worth $1,628,000 after buying an additional 876 shares during the period. California Public Employees Retirement System raised 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 worth $5,528,000 after buying an additional 1,100 shares during the period. Finally, Morgan Stanley raised 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 worth $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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