Ebix Inc. (EBIX) Shares Up 4.7%
Ebix Inc. (NASDAQ:EBIX) shares shot up 4.7% during trading on Thursday . The stock 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.
Several research firms have recently commented on EBIX. Zacks Investment Research lowered Ebix from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Tigress Financial raised Ebix from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 19th.
The company has a 50-day moving average of $50.64 and a 200-day moving average of $43.37. The company has a market capitalization of $5.38 billion and a PE ratio of 67.38.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The company earned $71.10 million during the quarter, compared to analysts’ expectations of $69.35 million. Ebix’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that Ebix Inc. will post $0.89 earnings per share for the current year.
In related news, CFO Robert F. Kerris sold 1,211 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $47.73, for a total value of $57,801.03. Following the completion of the transaction, the chief financial officer now directly owns 4,671 shares in the company, valued at $222,946.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hans Ueli Keller sold 3,684 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $45.49, for a total value of $167,585.16. Following the completion of the transaction, the director now owns 69,753 shares of the company’s stock, valued at $3,173,063.97. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of EBIX. 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. 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 valued at $9,011,000 after buying an additional 51,443 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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