Laurion Capital Management LP increased its holdings in shares of Ebix Inc (NASDAQ:EBIX) by 174.1% during the 2nd quarter, reports. The institutional investor owned 18,581 shares of the technology company’s stock after purchasing an additional 11,801 shares during the period. Laurion Capital Management LP’s holdings in Ebix were worth $1,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Ebix during the 1st quarter worth approximately $101,000. SG Americas Securities LLC purchased a new stake in Ebix during the 1st quarter worth approximately $145,000. Affinity Investment Advisors LLC purchased a new stake in Ebix during the 1st quarter worth approximately $227,000. Xact Kapitalforvaltning AB purchased a new stake in Ebix during the 1st quarter worth approximately $236,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Ebix during the 2nd quarter worth approximately $236,000. 67.85% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ EBIX opened at $79.30 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.08. Ebix Inc has a 52 week low of $57.05 and a 52 week high of $89.10. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 23.63 and a beta of 1.26.

Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Ebix had a net margin of 24.67% and a return on equity of 19.99%. The company had revenue of $124.60 million during the quarter, compared to analysts’ expectations of $111.41 million. The business’s revenue for the quarter was up 42.6% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, August 30th. This is a boost from Ebix’s previous quarterly dividend of $0.08. Ebix’s payout ratio is 9.46%.

In other Ebix news, Director Hans U. Benz sold 2,283 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $78.52, for a total transaction of $179,261.16. Following the completion of the transaction, the director now owns 5,721 shares in the company, valued at approximately $449,212.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.50% of the company’s stock.

Several brokerages recently weighed in on EBIX. Maxim Group set a $113.00 target price on shares of Ebix and gave the stock a “buy” rating in a research note on Thursday, August 9th. BidaskClub cut shares of Ebix from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ebix presently has a consensus rating of “Buy” and an average price target of $100.00.

Ebix Profile

Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

See Also: Outstanding Shares

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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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