New York State Teachers Retirement System Has $1,977,000 Position in Ebix Inc. (EBIX)
New York State Teachers Retirement System increased its position in Ebix Inc. (NASDAQ:EBIX) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,272 shares of the company’s stock after buying an additional 2,100 shares during the period. New York State Teachers Retirement System’s holdings in Ebix were worth $1,977,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in EBIX. Aperio Group LLC boosted its position in Ebix by 1.4% in the first quarter. Aperio Group LLC now owns 7,419 shares of the company’s stock worth $303,000 after buying an additional 100 shares in the last quarter. Pacad Investment Ltd. bought a new position in Ebix during the first quarter worth approximately $326,000. Palo Capital Inc. bought a new position in Ebix during the second quarter worth approximately $404,000. BNP Paribas Arbitrage SA boosted its position in Ebix by 90.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,630 shares of the company’s stock worth $413,000 after buying an additional 4,095 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in Ebix by 13.4% in the second quarter. Capstone Asset Management Co. now owns 12,049 shares of the company’s stock worth $577,000 after buying an additional 1,420 shares in the last quarter. 68.88% of the stock is owned by institutional investors and hedge funds.
Ebix Inc. (NASDAQ:EBIX) traded up 0.09% during trading on Friday, reaching $56.60. 258,830 shares of the company’s stock were exchanged. The company has a market cap of $1.84 billion, a P/E ratio of 21.84 and a beta of 1.68. Ebix Inc. has a 12-month low of $26.25 and a 12-month high of $59.17. The stock’s 50-day moving average is $56.53 and its 200-day moving average is $50.58.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Ebix had a net margin of 31.11% and a return on equity of 21.32%. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $71.20 million. During the same quarter in the prior year, the business earned $0.54 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Ebix Inc. will post $2.70 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Ebix from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note 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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