Sapphire Star Partners LP decreased its position in shares of Ebix, Inc. (NASDAQ:EBIX) by 18.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,068 shares of the technology company’s stock after selling 918 shares during the period. Sapphire Star Partners LP’s holdings in Ebix were worth $219,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Koch Industries Inc. bought a new stake in shares of Ebix during the first quarter worth $434,000. Caxton Associates LP bought a new stake in shares of Ebix during the first quarter worth $365,000. Sawgrass Asset Management LLC bought a new stake in shares of Ebix during the first quarter worth $232,000. Norges Bank bought a new stake in shares of Ebix during the fourth quarter worth $7,916,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of Ebix by 125.6% in the first quarter. Tudor Investment Corp ET AL now owns 20,655 shares of the technology company’s stock worth $1,265,000 after buying an additional 11,500 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors.
Shares of Ebix, Inc. (EBIX) traded down 0.63% during midday trading on Friday, reaching $55.60. The company’s stock had a trading volume of 206,648 shares. Ebix, Inc. has a 12-month low of $50.17 and a 12-month high of $65.10. The stock’s 50-day moving average price is $55.06 and its 200-day moving average price is $58.20. The company has a market cap of $1.75 billion, a P/E ratio of 18.42 and a beta of 1.76.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $81 million. Ebix had a return on equity of 22.76% and a net margin of 32.03%. On average, analysts expect that Ebix, Inc. will post $2.94 EPS for the current fiscal year.
EBIX has been the topic of a number of recent research reports. Zacks Investment Research downgraded Ebix from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a research report on Wednesday.
In other news, VP Graham John Prior sold 18,500 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the completion of the transaction, the vice president now directly owns 18,506 shares of the company’s stock, valued at approximately $1,023,936.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 13.00% of the company’s stock.
About Ebix
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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