State of Tennessee Treasury Department lessened its stake in shares of Ebix Inc (NASDAQ:EBIX) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,758 shares of the technology company’s stock after selling 1,934 shares during the quarter. State of Tennessee Treasury Department’s holdings in Ebix were worth $1,407,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in EBIX. Cambridge Investment Research Advisors Inc. purchased a new stake in Ebix in the third quarter worth $203,000. Amalgamated Bank purchased a new stake in Ebix in the third quarter worth $214,000. Janus Henderson Group PLC purchased a new stake in Ebix in the third quarter worth $214,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Ebix by 187.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,301 shares of the technology company’s stock worth $215,000 after acquiring an additional 2,153 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Ebix by 32.9% in the third quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock worth $227,000 after acquiring an additional 861 shares during the period. 64.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Ebix Inc (NASDAQ:EBIX) opened at $82.15 on Friday. Ebix Inc has a 52 week low of $52.40 and a 52 week high of $87.50. The company has a market capitalization of $2,586.74, a price-to-earnings ratio of 25.91, a P/E/G ratio of 2.23 and a beta of 1.67. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.72.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.37%. Ebix’s dividend payout ratio (DPR) is 9.46%.
A number of brokerages recently commented on EBIX. Zacks Investment Research raised Ebix from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Tuesday, March 6th. BidaskClub raised Ebix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 17th. Craig Hallum reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $87.00) on shares of Ebix in a research note on Monday, March 5th. Finally, Sidoti raised their price target on Ebix from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. One 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 company’s stock. The stock has an average rating of “Buy” and an average price target of $95.67.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $77.45, for a total value of $271,075.00. Following the completion of the transaction, the executive vice president now owns 63,971 shares in the company, valued at $4,954,553.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.80% of the stock is currently owned by corporate insiders.
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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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