Granahan Investment Management Inc. MA increased its holdings in Ebix Inc (NASDAQ:EBIX) by 144.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,912 shares of the technology company’s stock after acquiring an additional 100,371 shares during the quarter. Granahan Investment Management Inc. MA owned approximately 0.54% of Ebix worth $11,087,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in EBIX. Riverhead Capital Management LLC lifted its stake in shares of Ebix by 69.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock worth $101,000 after acquiring an additional 765 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Ebix in the second quarter worth about $121,000. Victory Capital Management Inc. lifted its stake in shares of Ebix by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,621 shares of the technology company’s stock worth $141,000 after acquiring an additional 392 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Ebix by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock worth $154,000 after acquiring an additional 32 shares in the last quarter. Finally, US Bancorp DE lifted its stake 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 worth $161,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 62.76% of the company’s stock.
Shares of Ebix Inc (NASDAQ EBIX) traded down $2.00 during midday trading on Tuesday, reaching $77.25. The company’s stock had a trading volume of 263,086 shares, compared to its average volume of 234,050. Ebix Inc has a 12-month low of $52.40 and a 12-month high of $81.85. The firm has a market capitalization of $2,470.00, a PE ratio of 25.00, a P/E/G ratio of 2.59 and a beta of 1.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.62 and a quick ratio of 1.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, November 29th. Ebix’s payout ratio is currently 9.71%.
EBIX has been the topic of several recent analyst reports. William Blair initiated coverage on Ebix in a research note on Wednesday, September 27th. They issued an “outperform” rating on the stock. Craig Hallum boosted their price target on Ebix to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Monday, November 20th. Finally, Sidoti boosted their price target on Ebix from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $87.00.
In other Ebix news, Director Hans U. Benz sold 2,850 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $73.30, for a total transaction of $208,905.00. Following the sale, the director now owns 2,909 shares in the company, valued at $213,229.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean T. Donaghy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $75.56, for a total value of $45,336.00. The disclosure for this sale can be found here. Insiders have sold 6,950 shares of company stock worth $525,316 in the last 90 days. 13.80% of the stock is currently owned by insiders.
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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