California State Teachers Retirement System Sells 7,115 Shares of Ebix, Inc. (EBIX)
California State Teachers Retirement System reduced its position in shares of Ebix, Inc. (NASDAQ:EBIX) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,558 shares of the technology company’s stock after selling 7,115 shares during the period. California State Teachers Retirement System owned about 0.14% of Ebix worth $2,294,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EBIX. OppenheimerFunds Inc. acquired a new position in shares of Ebix during the first quarter worth $247,000. Teachers Advisors LLC raised its holdings in Ebix by 5.5% in the first quarter. Teachers Advisors LLC now owns 43,545 shares of the technology company’s stock valued at $2,667,000 after acquiring an additional 2,257 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 99,789 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ebix by 4.0% in the first quarter. Geode Capital Management LLC now owns 193,596 shares of the technology company’s stock valued at $11,857,000 after acquiring an additional 7,407 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Ebix in the first quarter valued at $1,218,000. 62.32% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Ebix, Inc. (NASDAQ EBIX) opened at $74.45 on Monday. The stock has a market cap of $2,341.87, a price-to-earnings ratio of 24.09, a P/E/G ratio of 2.43 and a beta of 1.75. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.66. Ebix, Inc. has a twelve month low of $52.40 and a twelve month high of $74.80.
Several research firms recently issued reports on EBIX. Craig Hallum reaffirmed a “buy” rating and issued a $87.00 price target (up from $80.00) on shares of Ebix in a report on Thursday. BidaskClub raised shares of Ebix from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, William Blair began coverage on shares of Ebix in a report on Wednesday, September 27th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $87.00.
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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