Atwood & Palmer Inc. Buys 10,367 Shares of Ebix, Inc. (EBIX)
Atwood & Palmer Inc. increased its position in Ebix, Inc. (NASDAQ:EBIX) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 309,431 shares of the technology company’s stock after buying an additional 10,367 shares during the period. Ebix makes up about 2.6% of Atwood & Palmer Inc.’s portfolio, making the stock its 17th largest position. Atwood & Palmer Inc. owned approximately 0.98% of Ebix worth $16,678,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Ebix by 0.7% in the second quarter. Principal Financial Group Inc. now owns 183,952 shares of the technology company’s stock worth $9,915,000 after buying an additional 1,342 shares during the last quarter. Renaissance Group LLC bought a new position in shares of Ebix during the second quarter worth about $332,000. Victory Capital Management Inc. boosted its position in shares of Ebix by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,621 shares of the technology company’s stock worth $141,000 after buying an additional 392 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Ebix by 374.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 40,790 shares of the technology company’s stock worth $2,199,000 after buying an additional 32,190 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its position in shares of Ebix by 2.5% in the second quarter. Virginia Retirement Systems ET AL now owns 16,600 shares of the technology company’s stock worth $895,000 after buying an additional 400 shares during the last quarter. 61.98% of the stock is owned by institutional investors and hedge funds.
Ebix, Inc. (EBIX) traded up 0.35% during midday trading on Wednesday, reaching $57.10. The company had a trading volume of 4,587 shares. The firm has a 50-day moving average of $57.06 and a 200-day moving average of $58.28. The stock has a market cap of $1.80 billion, a P/E ratio of 18.60 and a beta of 1.76. Ebix, Inc. has a 12 month low of $52.38 and a 12 month high of $65.10.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $87.39 million during the quarter, compared to the consensus estimate of $81.35 million. On average, equities analysts expect that Ebix, Inc. will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, August 29th. Ebix’s payout ratio is 9.77%.
A number of equities analysts have recently issued reports on the company. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Ebix from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th.
In other news, VP Graham John Prior sold 18,500 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the sale, the vice president now owns 18,506 shares in the company, valued at approximately $1,023,936.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.00% of the stock is owned by company insiders.
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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