CIBC World Markets Inc. increased its position in shares of Ebix Inc. (NASDAQ:EBIX) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 52,205 shares of the company’s stock after buying an additional 3,444 shares during the period. CIBC World Markets Inc. owned about 0.16% of Ebix worth $2,968,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Ebix by 39.1% in the third quarter. Advisors Asset Management Inc. now owns 2,060 shares of the company’s stock worth $117,000 after buying an additional 579 shares during the last quarter. BlackRock Inc. boosted its position in Ebix by 42.0% in the second quarter. BlackRock Inc. now owns 2,449 shares of the company’s stock worth $118,000 after buying an additional 724 shares during the last quarter. Bank of Montreal Can bought a new position in Ebix during the second quarter worth $127,000. PineBridge Investments L.P. boosted its position in Ebix by 4.7% in the second quarter. PineBridge Investments L.P. now owns 3,241 shares of the company’s stock worth $155,000 after buying an additional 146 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Ebix during the second quarter worth $158,000. Hedge funds and other institutional investors own 68.70% of the company’s stock.
Shares of Ebix Inc. (NASDAQ:EBIX) traded up 0.48% during mid-day trading on Friday, hitting $62.20. 100,769 shares of the company were exchanged. The company has a market capitalization of $2.02 billion, a P/E ratio of 22.60 and a beta of 1.75. The company has a 50 day moving average of $57.25 and a 200 day moving average of $53.22. Ebix Inc. has a 52 week low of $28.28 and a 52 week high of $63.00.
Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business earned $74.60 million during the quarter, compared to analyst estimates of $73 million. Ebix had a net margin of 31.60% and a return on equity of 21.72%. Equities analysts anticipate that Ebix Inc. will post $2.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.30 dividend on an annualized basis and a yield of 0.48%. Ebix’s dividend payout ratio is currently 10.87%.
Separately, Zacks Investment Research upgraded shares of Ebix from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Thursday, August 11th.
In other news, CFO Robert F. Kerris sold 1,171 shares of Ebix stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $59.22, for a total value of $69,346.62. Following the completion of the sale, the chief financial officer now directly owns 3,500 shares in the company, valued at $207,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.00% of the company’s stock.
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).
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