Marshall Wace North America L.P. purchased a new position in Ebix, Inc. (NASDAQ:EBIX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,265 shares of the technology company’s stock, valued at approximately $443,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Ebix during the fourth quarter worth approximately $1,235,000. Comerica Bank raised its position in shares of Ebix by 6.1% in the fourth quarter. Comerica Bank now owns 23,954 shares of the technology company’s stock worth $1,383,000 after buying an additional 1,370 shares during the period. State Street Corp raised its position in shares of Ebix by 3.1% in the fourth quarter. State Street Corp now owns 572,230 shares of the technology company’s stock worth $32,646,000 after buying an additional 17,035 shares during the period. Brown Advisory Inc. purchased a new stake in Ebix during the fourth quarter worth about $232,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Ebix during the fourth quarter worth about $205,000. Institutional investors own 63.06% of the company’s stock.
Ebix, Inc. (NASDAQ EBIX) traded up 2.02% during mid-day trading on Friday, hitting $57.95. The stock had a trading volume of 161,510 shares. The stock’s 50 day moving average price is $55.31 and its 200 day moving average price is $58.12. Ebix, Inc. has a one year low of $50.17 and a one year high of $65.10. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.20 and a beta of 1.76.
Ebix (NASDAQ:EBIX) last released 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 business had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $81 million. Ebix had a return on equity of 22.76% and a net margin of 32.03%. Analysts forecast that Ebix, Inc. will post $2.94 EPS for the current year.
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A number of research firms have recently issued reports on EBIX. BidaskClub upgraded Ebix from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Ebix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
In related news, VP Graham John Prior sold 18,500 shares of Ebix stock in a transaction that occurred 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 completion of the sale, 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 accessible through the SEC website. 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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