Millrace Asset Group Inc. Sells 7,000 Shares of Ebix Inc (EBIX)
Millrace Asset Group Inc. lowered its stake in shares of Ebix Inc (NASDAQ:EBIX) by 19.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,591 shares of the technology company’s stock after selling 7,000 shares during the quarter. Ebix accounts for 2.2% of Millrace Asset Group Inc.’s portfolio, making the stock its 11th biggest position. Millrace Asset Group Inc.’s holdings in Ebix were worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in EBIX. State Street Corp grew its holdings in Ebix by 4.2% during the second quarter. State Street Corp now owns 621,928 shares of the technology company’s stock worth $33,528,000 after buying an additional 24,875 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Ebix in the 3rd quarter valued at $532,000. Victory Capital Management Inc. grew its stake in Ebix by 32.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock valued at $227,000 after purchasing an additional 861 shares during the period. Prudential Financial Inc. grew its stake in Ebix by 9.8% in the 3rd quarter. Prudential Financial Inc. now owns 40,580 shares of the technology company’s stock valued at $2,648,000 after purchasing an additional 3,618 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in Ebix by 50.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,764 shares of the technology company’s stock valued at $768,000 after purchasing an additional 3,926 shares during the period. Institutional investors and hedge funds own 64.03% of the company’s stock.
In other news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $77.45, for a total transaction of $271,075.00. Following the transaction, the executive vice president now owns 63,971 shares of the company’s stock, valued at approximately $4,954,553.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.80% of the stock is owned by corporate insiders.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Thursday, March 1st. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $104.68 million during the quarter, compared to the consensus estimate of $96.33 million. Ebix had a return on equity of 20.67% and a net margin of 27.65%. equities research analysts expect that Ebix Inc will post 3.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.36%. Ebix’s dividend payout ratio (DPR) is presently 9.46%.
A number of brokerages have issued reports on EBIX. Craig Hallum restated a “buy” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Ebix in a research note on Thursday, November 9th. Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Monday, November 20th. BidaskClub upgraded Ebix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 17th. Finally, Sidoti upped their price objective on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.33.
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).
Want to see what other hedge funds are holding EBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ebix Inc (NASDAQ:EBIX).
Receive News & Ratings for Ebix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix and related companies with MarketBeat.com's FREE daily email newsletter.