Zacks: Ebix, Inc. (NASDAQ:EBIX) Receives Consensus Rating of “Strong Buy” from Analysts
Shares of Ebix, Inc. (NASDAQ:EBIX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price objective of $75.00 for the company and are expecting that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ebix an industry rank of 80 out of 265 based on the ratings given to related companies.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Ebix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub cut Ebix from a “hold” rating to a “sell” rating in a report on Saturday, July 8th.
Ebix (EBIX) traded up 2.01% on Friday, reaching $55.90. The company’s stock had a trading volume of 191,985 shares. The stock’s 50 day moving average price is $55.36 and its 200 day moving average price is $58.58. The firm has a market cap of $1.76 billion, a PE ratio of 18.52 and a beta of 1.76. Ebix has a 52-week low of $47.45 and a 52-week high of $65.10.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $81 million. Ebix had a return on equity of 22.76% and a net margin of 32.03%. Equities research analysts expect that Ebix will post $2.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.30 annualized dividend and a dividend yield of 0.54%. Ebix’s payout ratio is currently 9.90%.
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In other Ebix news, VP Graham John Prior sold 18,500 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $55.33, for a total value of $1,023,605.00. Following the sale, the vice president now owns 18,506 shares of the company’s stock, valued at approximately $1,023,936.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EBIX. Victory Capital Management Inc. boosted its stake in Ebix by 69.1% in the first quarter. Victory Capital Management Inc. now owns 2,229 shares of the technology company’s stock valued at $137,000 after buying an additional 911 shares during the last quarter. Creative Planning boosted its stake in Ebix by 189.1% in the first quarter. Creative Planning now owns 2,278 shares of the technology company’s stock valued at $140,000 after buying an additional 1,490 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Ebix by 195.5% in the first quarter. LS Investment Advisors LLC now owns 2,494 shares of the technology company’s stock valued at $153,000 after buying an additional 1,650 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Ebix by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 3,285 shares of the technology company’s stock valued at $201,000 after buying an additional 672 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Ebix during the first quarter valued at $202,000. 64.06% of the stock is currently owned by hedge funds and other institutional investors.
Ebix Company Profile
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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