Schwab Charles Investment Management Inc. increased its stake in Ebix, Inc. (NASDAQ:EBIX) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,243 shares of the technology company’s stock after buying an additional 17,981 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Ebix were worth $7,365,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in EBIX. Victory Capital Management Inc. raised its stake in Ebix by 69.1% in the first quarter. Victory Capital Management Inc. now owns 2,229 shares of the technology company’s stock valued at $137,000 after buying an additional 911 shares during the period. Creative Planning raised its stake in Ebix by 189.1% in the first quarter. Creative Planning now owns 2,278 shares of the technology company’s stock valued at $140,000 after buying an additional 1,490 shares during the period. LS Investment Advisors LLC raised its stake in Ebix by 195.5% in the first quarter. LS Investment Advisors LLC now owns 2,494 shares of the technology company’s stock valued at $153,000 after buying an additional 1,650 shares during the period. Advisors Asset Management Inc. raised its stake in Ebix by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 3,285 shares of the technology company’s stock valued at $201,000 after buying an additional 672 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in Ebix during the first quarter valued at about $202,000. 64.86% of the stock is currently owned by institutional investors.
Ebix, Inc. (NASDAQ:EBIX) traded down 0.35% during mid-day trading on Tuesday, hitting $57.55. The stock had a trading volume of 3,316 shares. Ebix, Inc. has a 52 week low of $50.17 and a 52 week high of $65.10. The company’s 50 day moving average is $55.41 and its 200-day moving average is $58.13. The stock has a market capitalization of $1.81 billion, a P/E ratio of 19.06 and a beta of 1.76.
Ebix (NASDAQ:EBIX) last released its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Ebix had a return on equity of 22.76% and a net margin of 32.03%. The company had revenue of $79.10 million for the quarter, compared to analyst estimates of $81 million. On average, analysts expect that Ebix, Inc. will post $2.94 EPS for the current fiscal year.
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EBIX has been the topic of several analyst reports. Zacks Investment Research lowered Ebix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th.
In related news, VP Graham John Prior sold 18,500 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 18,506 shares in the company, valued at approximately $1,023,936.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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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