Vanguard Group Inc raised its holdings in Ebix Inc (NASDAQ:EBIX) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,251,861 shares of the technology company’s stock after purchasing an additional 55,539 shares during the quarter. Vanguard Group Inc owned 7.20% of Ebix worth $178,234,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ARK Investment Management LLC bought a new position in shares of Ebix in the 3rd quarter worth about $147,000. Pacer Advisors Inc. acquired a new position in Ebix during the 3rd quarter valued at about $193,000. HRT Financial LLC acquired a new position in Ebix during the 2nd quarter valued at about $217,000. Greenwood Capital Associates LLC acquired a new position in Ebix during the 3rd quarter valued at about $230,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Ebix in the 2nd quarter worth approximately $236,000. 74.17% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently commented on EBIX. ValuEngine downgraded Ebix from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. TheStreet cut shares of Ebix from a “b-” rating to a “c+” rating in a report on Friday, December 14th. Maxim Group set a $22.60 target price on shares of Ebix and gave the stock a “buy” rating in a research report on Thursday, November 8th. BidaskClub upgraded shares of Ebix from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Finally, BMO Capital Markets began coverage on shares of Ebix in a research report on Wednesday, September 26th. They set a “market perform” rating and a $17.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.75.

Shares of Ebix stock opened at $46.00 on Thursday. The firm has a market cap of $1.37 billion, a PE ratio of 14.50 and a beta of 1.48. Ebix Inc has a 1-year low of $39.27 and a 1-year high of $89.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.56 and a current ratio of 1.56.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Ebix had a net margin of 23.85% and a return on equity of 20.55%. The firm had revenue of $128.64 million for the quarter, compared to the consensus estimate of $128.63 million. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities analysts expect that Ebix Inc will post 3.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.65%. Ebix’s dividend payout ratio is presently 9.46%.

In other news, major shareholder Fondation Rennes sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $44.00, for a total value of $8,800,000.00. Following the completion of the sale, the insider now owns 3,415,981 shares of the company’s stock, valued at approximately $150,303,164. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robin Raina acquired 1,000 shares of Ebix stock in a transaction that occurred on Monday, November 12th. The shares were purchased at an average price of $52.45 per share, with a total value of $52,450.00. Following the purchase, the chief executive officer now owns 3,599,960 shares in the company, valued at $188,817,902. The disclosure for this purchase can be found here. Over the last three months, insiders sold 212,000 shares of company stock valued at $9,359,160. 13.50% of the stock is owned by corporate insiders.

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Ebix Company Profile

Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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