Ebix (NASDAQ:EBIX) Shares Gap Down to $24.41

Ebix, Inc. (NASDAQ:EBIXGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $24.41, but opened at $23.50. Ebix shares last traded at $23.10, with a volume of 153 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on EBIX. StockNews.com upgraded Ebix from a “sell” rating to a “hold” rating in a report on Monday, May 23rd. TheStreet downgraded Ebix from a “b-” rating to a “c+” rating in a report on Friday, June 17th.

Ebix Price Performance

The company has a fifty day moving average of $20.73 and a 200-day moving average of $27.49. The firm has a market cap of $730.09 million, a P/E ratio of 10.85 and a beta of 2.70.

Ebix (NASDAQ:EBIXGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Ebix had a return on equity of 12.43% and a net margin of 6.97%. The business had revenue of $250.78 million during the quarter, compared to the consensus estimate of $270.25 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. Ebix’s revenue was up 1.8% compared to the same quarter last year.

Ebix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Friday, June 3rd were given a $0.075 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $0.30 annualized dividend and a yield of 1.27%. Ebix’s dividend payout ratio is currently 13.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Villere ST Denis J & Co. LLC boosted its position in Ebix by 1.5% in the first quarter. Villere ST Denis J & Co. LLC now owns 1,450,694 shares of the technology company’s stock worth $48,090,000 after purchasing an additional 21,660 shares during the last quarter. Wasatch Advisors Inc. boosted its position in Ebix by 11.7% in the first quarter. Wasatch Advisors Inc. now owns 1,264,573 shares of the technology company’s stock worth $41,921,000 after purchasing an additional 132,361 shares during the last quarter. State Street Corp boosted its position in Ebix by 1.1% in the second quarter. State Street Corp now owns 1,022,848 shares of the technology company’s stock worth $17,286,000 after purchasing an additional 11,257 shares during the last quarter. Millennium Management LLC purchased a new position in Ebix in the second quarter worth $15,591,000. Finally, Dimensional Fund Advisors LP boosted its position in Ebix by 26.0% in the first quarter. Dimensional Fund Advisors LP now owns 857,361 shares of the technology company’s stock worth $28,424,000 after purchasing an additional 176,703 shares during the last quarter. Hedge funds and other institutional investors own 68.74% of the company’s stock.

Ebix Company Profile

(Get Rating)

Ebix, Inc, together with its subsidiaries, provides on-demand infrastructure software exchanges and e-commerce services to the insurance, financial, travel, and healthcare industries in the United States and internationally. It develops and deploys insurance and reinsurance exchanges; provides software-as-a-service (SaaS) enterprise solutions in the areas of customer relationship management, and front-end and back-end systems; and offers outsourced administrative and risk compliance solutions.

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