3,300 Shares in Ebix Inc. (EBIX) Acquired by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. bought a new position in Ebix Inc. (NASDAQ:EBIX) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 3,300 shares of the company’s stock, valued at approximately $158,000.
Several other institutional investors also recently made changes to their positions in the company. James Investment Research Inc. acquired a new position in Ebix during the second quarter worth about $10,253,000. Palisade Capital Management LLC NJ boosted its position in Ebix by 54.2% in the first quarter. Palisade Capital Management LLC NJ now owns 311,719 shares of the company’s stock worth $12,715,000 after buying an additional 109,629 shares during the last quarter. LPL Financial LLC boosted its position in Ebix by 519.2% in the first quarter. LPL Financial LLC now owns 58,176 shares of the company’s stock worth $2,328,000 after buying an additional 48,780 shares during the last quarter. CIBC World Markets Inc. acquired a new position in Ebix during the second quarter worth about $2,336,000. Finally, Huntington Asset Advisors Inc. acquired a new position in Ebix during the first quarter worth about $1,036,000. Hedge funds and other institutional investors own 68.88% of the company’s stock.
Shares of Ebix Inc. (NASDAQ:EBIX) traded up 0.95% during midday trading on Friday, hitting $57.45. The company’s stock had a trading volume of 171,963 shares. Ebix Inc. has a 12-month low of $24.72 and a 12-month high of $59.17. The firm has a 50-day moving average of $56.58 and a 200 day moving average of $50.03. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 22.16 and a beta of 1.68.
Ebix (NASDAQ:EBIX) last announced its earnings results on Monday, August 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Ebix had a return on equity of 21.32% and a net margin of 31.11%. The business earned $72.60 million during the quarter, compared to analysts’ expectations of $71.20 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Ebix Inc. will post $2.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.075 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.52%. Ebix’s payout ratio is currently 11.49%.
Separately, Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, August 11th.
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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