Ebix (NASDAQ:EBIX) received a $113.00 target price from equities researchers at Maxim Group in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the technology company’s stock. Maxim Group’s price target indicates a potential upside of 104.78% from the company’s previous close.
EBIX has been the topic of a number of other research reports. ValuEngine cut shares of Ebix from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. BidaskClub lowered Ebix from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Finally, BMO Capital Markets started coverage on Ebix in a report on Wednesday, September 26th. They issued a “market perform” rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Ebix has an average rating of “Hold” and a consensus target price of $97.00.
Ebix stock traded down $0.62 during trading on Wednesday, reaching $55.18. The company had a trading volume of 3,202 shares, compared to its average volume of 449,285. Ebix has a 1-year low of $53.72 and a 1-year high of $89.10. The stock has a market capitalization of $1.76 billion, a P/E ratio of 17.53 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.69 and a current ratio of 1.69.
Ebix shares are scheduled to split on Friday, December 14th. The 5-1 split was announced on Thursday, September 20th. The newly minted shares will be payable to shareholders after the market closes on Thursday, December 13th.
Ebix (NASDAQ:EBIX) last released its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The firm had revenue of $124.60 million for the quarter, compared to analysts’ expectations of $111.41 million. The company’s quarterly revenue was up 42.6% compared to the same quarter last year.
In other Ebix news, major shareholder Fondation Rennes sold 12,800 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $77.20, for a total value of $988,160.00. Following the transaction, the insider now owns 3,425,981 shares in the company, valued at approximately $264,485,733.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EBIX. HRT Financial LLC purchased a new position in Ebix in the 2nd quarter valued at $217,000. Xact Kapitalforvaltning AB purchased a new position in Ebix in the 1st quarter valued at $236,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Ebix during the 2nd quarter worth $236,000. First Hawaiian Bank purchased a new position in shares of Ebix during the 3rd quarter worth $245,000. Finally, SG Americas Securities LLC raised its holdings in shares of Ebix by 103.2% during the 2nd quarter. SG Americas Securities LLC now owns 3,943 shares of the technology company’s stock worth $301,000 after acquiring an additional 2,003 shares during the period. Institutional investors own 68.64% of the company’s stock.
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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