Ebix (NASDAQ:EBIX) released its quarterly earnings results on Thursday. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09, MarketWatch Earnings reports. Ebix had a return on equity of 21.64% and a net margin of 18.71%. The company had revenue of $142.90 million during the quarter, compared to analysts’ expectations of $139.32 million. During the same period last year, the business posted $0.83 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year.
Ebix stock traded up $2.93 during midday trading on Thursday, reaching $50.78. The company’s stock had a trading volume of 528,432 shares, compared to its average volume of 318,809. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.35 and a current ratio of 1.35. Ebix has a 52-week low of $39.27 and a 52-week high of $89.10. The stock has a market cap of $1.47 billion, a PE ratio of 13.61 and a beta of 1.54.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 5,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $50.92, for a total value of $254,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Ebix by 42.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,029 shares of the technology company’s stock valued at $43,000 after purchasing an additional 306 shares during the period. Bremer Trust National Association acquired a new position in shares of Ebix in the fourth quarter valued at about $72,000. NumerixS Investment Technologies Inc increased its holdings in shares of Ebix by 20.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 3,000 shares of the technology company’s stock valued at $132,000 after purchasing an additional 500 shares during the period. Pearl River Capital LLC increased its holdings in shares of Ebix by 813.0% in the first quarter. Pearl River Capital LLC now owns 3,652 shares of the technology company’s stock valued at $180,000 after purchasing an additional 3,252 shares during the period. Finally, Boston Advisors LLC acquired a new position in shares of Ebix in the first quarter valued at about $201,000. 78.00% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on EBIX. Maxim Group reiterated a “buy” rating and issued a $124.00 price target on shares of Ebix in a research note on Thursday. BidaskClub cut Ebix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, BMO Capital Markets decreased their price target on Ebix to $62.00 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Ebix presently has a consensus rating of “Hold” and an average price target of $93.00.
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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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