Zacks Investment Research upgraded shares of Ebix (NASDAQ:EBIX) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $87.00 price objective on the technology company’s stock.
According to Zacks, “Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations. “
EBIX has been the subject of a number of other research reports. Craig Hallum reiterated a buy rating and issued a $87.00 target price (up previously from $80.00) on shares of Ebix in a research report on Thursday, November 9th. BidaskClub upgraded shares of Ebix from a buy rating to a strong-buy rating in a research report on Saturday, February 17th. Finally, Sidoti increased their target price on shares of Ebix from $88.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, December 19th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Ebix has a consensus rating of Buy and a consensus price target of $95.67.
Ebix (NASDAQ:EBIX) last released its earnings results on Thursday, March 1st. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. Ebix had a net margin of 27.65% and a return on equity of 20.67%. The company had revenue of $104.68 million during the quarter, compared to the consensus estimate of $96.33 million. equities analysts expect that Ebix will post 3.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.37%. Ebix’s payout ratio is 9.46%.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $77.45, for a total value of $271,075.00. Following the completion of the sale, the executive vice president now owns 63,971 shares in the company, valued at approximately $4,954,553.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in EBIX. Castleark Management LLC acquired a new position in shares of Ebix during the 4th quarter worth $15,407,000. BlackRock Inc. increased its stake in shares of Ebix by 3.6% during the 4th quarter. BlackRock Inc. now owns 2,879,960 shares of the technology company’s stock worth $228,236,000 after purchasing an additional 101,310 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new position in shares of Ebix during the 4th quarter worth $8,222,000. Granahan Investment Management Inc. MA increased its stake in shares of Ebix by 144.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 169,912 shares of the technology company’s stock worth $11,087,000 after purchasing an additional 100,371 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Ebix during the 4th quarter worth $4,885,000. Institutional investors own 64.03% of the company’s stock.
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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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