Ameriprise Financial Inc. Sells 566 Shares of Ebix, Inc. (EBIX)
Ameriprise Financial Inc. lessened its holdings in shares of Ebix, Inc. (NASDAQ:EBIX) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 332,270 shares of the technology company’s stock after selling 566 shares during the period. Ameriprise Financial Inc. owned 1.05% of Ebix worth $17,909,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Ebix by 120,181.3% in the first quarter. BlackRock Inc. now owns 2,785,714 shares of the technology company’s stock worth $170,625,000 after purchasing an additional 2,783,398 shares during the last quarter. Vanguard Group Inc. increased its holdings in Ebix by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock valued at $128,830,000 after purchasing an additional 99,789 shares during the period. First Trust Advisors LP increased its holdings in Ebix by 34.7% in the second quarter. First Trust Advisors LP now owns 891,181 shares of the technology company’s stock valued at $48,035,000 after purchasing an additional 229,511 shares during the period. State Street Corp increased its holdings in Ebix by 4.3% in the first quarter. State Street Corp now owns 597,053 shares of the technology company’s stock valued at $36,572,000 after purchasing an additional 24,823 shares during the period. Finally, Villere ST Denis J & Co. LLC increased its holdings in Ebix by 12,963.8% in the second quarter. Villere ST Denis J & Co. LLC now owns 587,871 shares of the technology company’s stock valued at $31,686,000 after purchasing an additional 583,371 shares during the period. Institutional investors own 61.95% of the company’s stock.
Ebix, Inc. (NASDAQ EBIX) opened at 64.85 on Wednesday. The company has a 50 day moving average price of $58.94 and a 200-day moving average price of $57.98. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 21.12 and a beta of 1.79. Ebix, Inc. has a 1-year low of $52.40 and a 1-year high of $66.50.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Ebix had a net margin of 30.69% and a return on equity of 22.02%. The business had revenue of $87.39 million during the quarter, compared to analyst estimates of $81.35 million. On average, analysts forecast that Ebix, Inc. will post $3.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, August 29th. Ebix’s dividend payout ratio (DPR) is presently 9.77%.
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Several brokerages recently issued reports on EBIX. BidaskClub lowered Ebix from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Ebix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, William Blair began coverage on Ebix in a research report on Wednesday, September 27th. They issued an “outperform” rating on the stock.
Ebix Company Profile
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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