Ebix Inc Plans Quarterly Dividend of $0.08 (EBIX)
Ebix Inc (NASDAQ:EBIX) declared a quarterly dividend on Tuesday, May 21st, NASDAQ reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.075 per share by the technology company on Friday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, May 30th.
Ebix has a dividend payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings.
EBIX stock traded up $1.01 during midday trading on Friday, reaching $50.07. The company had a trading volume of 124,750 shares, compared to its average volume of 309,634. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.27. Ebix has a fifty-two week low of $39.27 and a fifty-two week high of $89.10. The company has a market cap of $1.53 billion, a P/E ratio of 13.42 and a beta of 1.54.
In other news, EVP Leon Royden Thomas D’apice sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $50.92, for a total transaction of $254,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.50% of the company’s stock.
Several brokerages have recently issued reports on EBIX. BidaskClub upgraded Ebix from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. BMO Capital Markets reduced their price objective on Ebix to $62.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Maxim Group reiterated a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Ebix has an average rating of “Hold” and an average target price of $42.30.
Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning 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 finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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