Ebix Inc. (NASDAQ:EBIX) shares fell 2.8% on Monday . The company traded as low as $51.25 and last traded at $53.26, with a volume of 406,089 shares traded. The stock had previously closed at $54.78.

A number of research firms have weighed in on EBIX. Zacks Investment Research downgraded Ebix from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Tigress Financial upgraded Ebix from an “underperform” rating to a “neutral” rating in a report on Thursday, May 19th.

The company has a 50 day moving average price of $50.87 and a 200 day moving average price of $43.63. The company has a market cap of $1.80 billion and a PE ratio of 22.56.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. During the same period in the previous year, the business earned $0.54 EPS. The firm earned $72.60 million during the quarter, compared to the consensus estimate of $71.20 million. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Ebix Inc. will post $2.66 earnings per share for the current year.

In other news, Director Hans Ueli Keller sold 3,684 shares of the firm’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 transaction, the director now directly owns 69,753 shares of the company’s stock, valued at $3,173,063.97. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert F. Kerris sold 1,211 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $47.73, for a total transaction 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 disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of the company. Morgan Stanley raised 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 period. California Public Employees Retirement System raised 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 during the last quarter. Finally, California State Teachers Retirement System raised 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 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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