Ebix Inc (EBIX) Given Consensus Rating of “Buy” by Analysts

Shares of Ebix Inc (NASDAQ:EBIX) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $100.00.

Several research firms have recently issued reports on EBIX. BidaskClub lowered shares of Ebix from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Ebix from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Ebix from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Tuesday, March 6th.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Ebix by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 183,471 shares of the technology company’s stock valued at $13,669,000 after buying an additional 4,734 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Ebix during the 1st quarter valued at about $1,318,000. CIBC World Markets Inc. bought a new stake in Ebix during the 1st quarter valued at about $1,989,000. Xact Kapitalforvaltning AB bought a new stake in Ebix during the 1st quarter valued at about $236,000. Finally, Royal Bank of Canada lifted its holdings in Ebix by 1,315.1% during the 1st quarter. Royal Bank of Canada now owns 105,880 shares of the technology company’s stock valued at $7,888,000 after buying an additional 98,398 shares in the last quarter. Institutional investors own 66.07% of the company’s stock.

Ebix opened at $75.30 on Friday, MarketBeat reports. The stock has a market capitalization of $2.38 billion, a PE ratio of 23.75, a PEG ratio of 1.94 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.83. Ebix has a 12-month low of $52.80 and a 12-month high of $87.50.

Ebix (NASDAQ:EBIX) last released its earnings results on Wednesday, May 9th. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.03). The firm had revenue of $108.23 million during the quarter, compared to the consensus estimate of $106.81 million. Ebix had a return on equity of 19.54% and a net margin of 25.54%. The business’s revenue was up 36.8% on a year-over-year basis. research analysts forecast that Ebix will post 3.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, May 30th. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. Ebix’s payout ratio is 9.46%.

About Ebix

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.