Ebix Inc to Issue Quarterly Dividend of $0.08 (NASDAQ:EBIX)

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Ebix Inc (NASDAQ:EBIX) declared a quarterly dividend on Monday, August 26th, Fidelity reports. Shareholders of record on Wednesday, September 4th will be paid a dividend of 0.075 per share by the technology company on Monday, September 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, September 3rd.

Ebix has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings.

Shares of EBIX traded down $0.12 during midday trading on Wednesday, reaching $34.36. 506 shares of the company were exchanged, compared to its average volume of 342,800. The stock has a 50-day moving average price of $41.49 and a 200-day moving average price of $48.79. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 9.14 and a beta of 1.47. Ebix has a 1-year low of $33.87 and a 1-year high of $81.50. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.22.

Ebix (NASDAQ:EBIX) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.06). The company had revenue of $144.28 million for the quarter, compared to analyst estimates of $150.41 million. Ebix had a return on equity of 22.55% and a net margin of 16.72%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities research analysts anticipate that Ebix will post 4.41 earnings per share for the current year.

Several research analysts recently commented on the company. Maxim Group reiterated a “buy” rating on shares of Ebix in a research note on Thursday, May 9th. BMO Capital Markets cut their price target on Ebix from $52.00 to $50.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. TheStreet cut Ebix from a “c+” rating to a “f” rating in a research note on Thursday, July 18th. Finally, BidaskClub cut Ebix from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.30.

In related news, major shareholder Fondation Rennes sold 22,145 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $30.20, for a total value of $668,779.00. Following the transaction, the insider now owns 3,163,126 shares in the company, valued at $95,526,405.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 140,000 shares of company stock worth $4,916,033. Insiders own 14.20% of the company’s stock.

About Ebix

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.

Read More: What is Cost of Goods Sold (COGS)?

Dividend History for Ebix (NASDAQ:EBIX)

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