Crossmark Global Holdings Inc. Invests $532,000 in Ebix, Inc. (EBIX)
Crossmark Global Holdings Inc. bought a new stake in Ebix, Inc. (NASDAQ:EBIX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,159 shares of the technology company’s stock, valued at approximately $532,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EBIX. OppenheimerFunds Inc. acquired a new position in shares of Ebix in the 1st quarter valued at $247,000. Teachers Advisors LLC increased its position in shares of Ebix by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 43,545 shares of the technology company’s stock valued at $2,667,000 after acquiring an additional 2,257 shares during the period. Vanguard Group Inc. increased its position in shares of Ebix by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,103,333 shares of the technology company’s stock valued at $128,830,000 after acquiring an additional 99,789 shares during the period. Geode Capital Management LLC increased its position in shares of Ebix by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 193,596 shares of the technology company’s stock valued at $11,857,000 after acquiring an additional 7,407 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Ebix in the 1st quarter valued at $1,218,000. 62.32% of the stock is currently owned by hedge funds and other institutional investors.
Ebix, Inc. (NASDAQ:EBIX) opened at $74.85 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.62 and a quick ratio of 1.62. Ebix, Inc. has a 12-month low of $52.40 and a 12-month high of $76.50. The stock has a market capitalization of $2,354.48, a price-to-earnings ratio of 24.22, a P/E/G ratio of 2.45 and a beta of 1.75.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, November 29th. Ebix’s dividend payout ratio is currently 9.71%.
In other Ebix news, CFO Sean T. Donaghy sold 600 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $75.56, for a total transaction of $45,336.00. The sale was disclosed in a filing with the SEC, which is available through this link. 13.00% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on the company. Craig Hallum reissued a “buy” rating and issued a $87.00 target price (up from $80.00) on shares of Ebix in a research report on Thursday, November 9th. William Blair assumed coverage on Ebix in a research report on Wednesday, September 27th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $87.00.
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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