Ebix (EBIX) Hits New 12-Month High at $81.35
Ebix Inc (NASDAQ:EBIX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $81.35 and last traded at $80.35, with a volume of 112800 shares traded. The stock had previously closed at $79.30.
Several equities research analysts have recently issued reports on EBIX shares. William Blair started coverage on Ebix in a research report on Wednesday, September 27th. They issued an “outperform” rating on the stock. Craig Hallum raised their price target on Ebix to $80.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research raised Ebix from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Monday, November 20th. Finally, Sidoti raised their price target on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $87.00.
The stock has a market cap of $2,494.43, a PE ratio of 25.66, a PEG ratio of 2.59 and a beta of 1.74. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.
In related news, Director Hans U. Benz sold 2,850 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $73.30, for a total value of $208,905.00. Following the completion of the sale, the director now owns 2,909 shares in the company, valued at $213,229.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sean T. Donaghy sold 600 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $75.56, for a total transaction of $45,336.00. The disclosure for this sale can be found here. Company insiders own 13.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EBIX. Renaissance Technologies LLC bought a new stake in shares of Ebix in the first quarter valued at about $1,218,000. US Bancorp DE lifted its stake in shares of Ebix by 10.5% in the second quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock valued at $161,000 after buying an additional 285 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Ebix by 3.0% in the second quarter. Great West Life Assurance Co. Can now owns 31,790 shares of the technology company’s stock valued at $1,714,000 after buying an additional 923 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Ebix by 9.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 131,026 shares of the technology company’s stock valued at $7,063,000 after buying an additional 10,783 shares during the period. Finally, Alps Advisors Inc. lifted its stake in shares of Ebix by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,717 shares of the technology company’s stock valued at $416,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 62.76% of the company’s stock.
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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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