Ebix (NASDAQ:EBIX) Downgraded to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Ebix (NASDAQ:EBIX) from a sell rating to a strong sell rating in a research note released on Friday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. TheStreet raised Ebix from a f rating to a c rating in a research note on Wednesday, September 18th. BMO Capital Markets cut their price target on Ebix from $50.00 to $46.00 and set a market perform rating for the company in a research note on Wednesday.

Shares of NASDAQ:EBIX traded up $1.67 on Friday, hitting $34.50. The company’s stock had a trading volume of 951,900 shares, compared to its average volume of 324,461. The stock’s 50-day moving average is $40.62 and its two-hundred day moving average is $44.11. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.25 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.36 and a current ratio of 1.50. Ebix has a 12 month low of $32.15 and a 12 month high of $63.89.

Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.41). Ebix had a return on equity of 22.39% and a net margin of 14.64%. The firm had revenue of $147.20 million for the quarter, compared to analysts’ expectations of $149.43 million. During the same period last year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis.

In other news, major shareholder Fondation Rennes sold 22,145 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $30.20, for a total transaction of $668,779.00. Following the completion of the sale, the insider now directly owns 3,163,126 shares of the company’s stock, valued at approximately $95,526,405.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.20% of the stock is owned by company insiders.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of Ebix by 228.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 935 shares of the technology company’s stock valued at $39,000 after acquiring an additional 650 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Ebix by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 21,720 shares of the technology company’s stock valued at $914,000 after acquiring an additional 536 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in shares of Ebix by 84.0% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 50,331 shares of the technology company’s stock valued at $2,119,000 after acquiring an additional 22,976 shares during the last quarter. Mackay Shields LLC increased its holdings in shares of Ebix by 15.8% during the 3rd quarter. Mackay Shields LLC now owns 76,401 shares of the technology company’s stock valued at $3,216,000 after acquiring an additional 10,400 shares during the last quarter. Finally, Trellus Management Company LLC increased its holdings in shares of Ebix by 33.3% during the 3rd quarter. Trellus Management Company LLC now owns 40,000 shares of the technology company’s stock valued at $1,684,000 after acquiring an additional 10,000 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Ebix Company Profile

Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning 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 finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

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