Sapphire Star Partners LP cut its stake in Ebix, Inc. (NASDAQ:EBIX) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. US Bancorp DE boosted its position in shares of Ebix by 10.5% in the second quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock valued at $161,000 after buying an additional 285 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Ebix by 2.2% in the second quarter. Eqis Capital Management Inc. now owns 19,693 shares of the technology company’s stock valued at $1,061,000 after buying an additional 418 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Ebix by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 4,300 shares of the technology company’s stock valued at $231,000 after buying an additional 1,900 shares in the last quarter. Piedmont Investment Advisors LLC boosted its position in shares of Ebix by 152.1% in the first quarter. Piedmont Investment Advisors LLC now owns 15,244 shares of the technology company’s stock valued at $934,000 after buying an additional 9,198 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Ebix during the first quarter valued at $365,000. 64.46% of the stock is currently owned by institutional investors.
Shares of Ebix, Inc. (NASDAQ:EBIX) opened at 62.60 on Thursday. The company has a 50-day moving average price of $56.12 and a 200 day moving average price of $58.20. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 20.74 and a beta of 1.76. Ebix, Inc. has a 52 week low of $52.38 and a 52 week high of $65.10.
Ebix (NASDAQ:EBIX) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Ebix had a net margin of 30.69% and a return on equity of 22.02%. The business had revenue of $87.39 million for the quarter, compared to analysts’ expectations of $81.35 million. Analysts expect that Ebix, Inc. will post $2.94 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on EBIX shares. Zacks Investment Research downgraded Ebix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th.
In other Ebix news, VP Graham John Prior sold 18,500 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the sale, the vice president now owns 18,506 shares of the company’s stock, valued at approximately $1,023,936.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.00% of the company’s stock.
Ebix Company Profile
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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