Bank of New York Mellon Corp lifted its stake in shares of Ebix Inc (NASDAQ:EBIX) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,072 shares of the technology company’s stock after acquiring an additional 19,226 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.04% of Ebix worth $13,878,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Ebix by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 7,937 shares of the technology company’s stock worth $628,000 after acquiring an additional 973 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Ebix by 5.8% during the third quarter. Alliancebernstein L.P. now owns 41,080 shares of the technology company’s stock worth $3,251,000 after acquiring an additional 2,260 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Ebix by 115.1% during the third quarter. Janus Henderson Group PLC now owns 10,333 shares of the technology company’s stock worth $818,000 after acquiring an additional 5,530 shares during the period. BlackRock Inc. raised its holdings in shares of Ebix by 5.8% during the third quarter. BlackRock Inc. now owns 3,396,207 shares of the technology company’s stock worth $268,811,000 after acquiring an additional 185,061 shares during the period. Finally, Jefferies Group LLC acquired a new stake in shares of Ebix during the third quarter worth $271,000. Institutional investors own 78.85% of the company’s stock.
Shares of EBIX stock opened at $51.01 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.28. Ebix Inc has a 1 year low of $39.27 and a 1 year high of $89.10. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.68 and a beta of 1.57.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.59%. Ebix’s payout ratio is currently 8.04%.
A number of brokerages recently commented on EBIX. BidaskClub lowered shares of Ebix from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. BMO Capital Markets dropped their price objective on shares of Ebix to $62.00 and set a “market perform” rating on the stock in a report on Tuesday, March 5th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of Ebix from a “b-” rating to a “c+” rating in a report on Friday, December 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Ebix presently has a consensus rating of “Hold” and an average price target of $42.30.
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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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