New York State Common Retirement Fund lifted its position in Ebix Inc (NASDAQ:EBIX) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,939 shares of the technology company’s stock after purchasing an additional 2,019 shares during the quarter. New York State Common Retirement Fund owned 0.17% of Ebix worth $3,869,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Ebix by 1,219.8% in the first quarter. JPMorgan Chase & Co. now owns 86,841 shares of the technology company’s stock valued at $6,470,000 after purchasing an additional 80,261 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Ebix by 84.8% in the first quarter. Federated Investors Inc. PA now owns 34,110 shares of the technology company’s stock valued at $2,541,000 after purchasing an additional 15,654 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ebix by 2.4% in the first quarter. BlackRock Inc. now owns 2,948,641 shares of the technology company’s stock valued at $219,674,000 after purchasing an additional 68,681 shares in the last quarter. KBC Group NV raised its stake in shares of Ebix by 4.5% in the first quarter. KBC Group NV now owns 18,553 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 796 shares in the last quarter. Finally, 6 Meridian acquired a new position in shares of Ebix in the first quarter valued at $419,000. Institutional investors and hedge funds own 66.11% of the company’s stock.
Ebix stock opened at $79.25 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.83. Ebix Inc has a 52-week low of $52.80 and a 52-week high of $87.50. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.03 and a beta of 1.73.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $0.30 annualized dividend and a yield of 0.38%. Ebix’s dividend payout ratio is currently 9.46%.
A number of research analysts recently commented on the company. Zacks Investment Research lowered Ebix from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. BidaskClub lowered Ebix from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 17th. ValuEngine upgraded Ebix from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Craig Hallum restated a “buy” rating and issued a $110.00 target price (up from $87.00) on shares of Ebix in a research note on Monday, March 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $95.67.
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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