California Public Employees Retirement System Has $8.37 Million Stake in Ebix Inc (EBIX)
California Public Employees Retirement System reduced its stake in shares of Ebix Inc (NASDAQ:EBIX) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,645 shares of the technology company’s stock after selling 623 shares during the quarter. California Public Employees Retirement System’s holdings in Ebix were worth $8,372,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EBIX. State Street Corp grew its holdings in shares of Ebix by 4.2% during the 2nd quarter. State Street Corp now owns 621,928 shares of the technology company’s stock worth $33,528,000 after purchasing an additional 24,875 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Ebix during the 3rd quarter worth $532,000. Victory Capital Management Inc. lifted its position in shares of Ebix by 32.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock worth $227,000 after buying an additional 861 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Ebix by 9.8% during the 3rd quarter. Prudential Financial Inc. now owns 40,580 shares of the technology company’s stock worth $2,648,000 after buying an additional 3,618 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Ebix by 50.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,764 shares of the technology company’s stock worth $768,000 after buying an additional 3,926 shares during the last quarter. 64.03% of the stock is currently owned by institutional investors.
Shares of Ebix Inc (NASDAQ EBIX) opened at $83.05 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.72. Ebix Inc has a 1 year low of $52.40 and a 1 year high of $87.50. The firm has a market capitalization of $2,615.04, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.25 and a beta of 1.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.30 annualized dividend and a dividend yield of 0.36%. Ebix’s dividend payout ratio is currently 9.46%.
Several analysts recently weighed in on the company. BidaskClub upgraded Ebix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Zacks Investment Research downgraded Ebix from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Sidoti upped their price objective on Ebix from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Craig Hallum restated a “buy” rating and set a $87.00 price objective (up from $80.00) on shares of Ebix in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $89.33.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $77.45, for a total value of $271,075.00. Following the completion of the transaction, the executive vice president now directly owns 63,971 shares in the company, valued at $4,954,553.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by corporate 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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