First Trust Advisors LP Acquires 229,511 Shares of Ebix, Inc. (EBIX)
First Trust Advisors LP raised its stake in Ebix, Inc. (NASDAQ:EBIX) by 34.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 891,181 shares of the technology company’s stock after buying an additional 229,511 shares during the period. First Trust Advisors LP’s holdings in Ebix were worth $48,035,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Ebix by 120,181.3% in the first quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock valued at $170,625,000 after buying an additional 2,783,398 shares during the period. Villere ST Denis J & Co. LLC boosted its stake in shares of Ebix by 12,963.8% in the second quarter. Villere ST Denis J & Co. LLC now owns 587,871 shares of the technology company’s stock valued at $31,686,000 after buying an additional 583,371 shares during the period. Norges Bank acquired a new stake in shares of Ebix during the fourth quarter valued at about $7,916,000. Vanguard Group Inc. boosted its stake in shares of Ebix by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock valued at $128,830,000 after buying an additional 99,789 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Ebix during the first quarter valued at about $5,123,000. 64.46% of the stock is currently owned by institutional investors.
Shares of Ebix, Inc. (NASDAQ EBIX) opened at 56.80 on Friday. The firm’s 50-day moving average is $56.26 and its 200 day moving average is $58.19. The firm has a market cap of $1.79 billion, a PE ratio of 18.50 and a beta of 1.76. Ebix, Inc. has a 52 week low of $52.38 and a 52 week high of $65.10.
Ebix (NASDAQ:EBIX) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.07. The company had revenue of $87.39 million for the quarter, compared to analyst estimates of $81.35 million. Ebix had a return on equity of 22.02% and a net margin of 30.69%. Equities research analysts forecast that Ebix, Inc. will post $3.01 EPS for the current year.
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EBIX has been the topic of several recent research reports. Zacks Investment Research cut shares of Ebix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub cut shares of Ebix from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th.
In other Ebix news, VP Graham John Prior sold 18,500 shares of the company’s stock in a transaction on 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 $1,023,936.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.00% of the stock is currently owned by corporate insiders.
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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