Bank of New York Mellon Corp Cuts Stake in Ebix, Inc. (EBIX)
Bank of New York Mellon Corp lowered its position in Ebix, Inc. (NASDAQ:EBIX) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 318,704 shares of the technology company’s stock after selling 5,413 shares during the period. Bank of New York Mellon Corp owned about 1.01% of Ebix worth $19,520,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of EBIX. Sawgrass Asset Management LLC acquired a new stake in Ebix during the first quarter worth $232,000. Norges Bank acquired a new stake in Ebix during the fourth quarter worth $7,916,000. Russell Investments Group Ltd. acquired a new stake in Ebix during the fourth quarter worth $1,235,000. Comerica Bank raised its stake in 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 last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Ebix by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,070 shares of the technology company’s stock worth $689,000 after buying an additional 590 shares during the last quarter. 64.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ebix, Inc. (NASDAQ:EBIX) opened at 55.00 on Friday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 18.22 and a beta of 1.80. The firm’s 50-day moving average is $57.02 and its 200-day moving average is $58.89. Ebix, Inc. has a 12-month low of $44.80 and a 12-month high of $65.10.
Ebix (NASDAQ:EBIX) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Ebix had a net margin of 32.03% and a return on equity of 22.76%. The business had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $81 million. On average, equities analysts predict that Ebix, Inc. will post $2.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, May 26th. Ebix’s payout ratio is currently 9.90%.
Separately, Zacks Investment Research lowered shares of Ebix from a “hold” rating to a “sell” rating in a report on Monday, May 15th.
In other Ebix news, EVP Leon Royden Thomas D’apice sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $60.68, for a total transaction of $455,100.00. Following the transaction, the executive vice president now directly owns 67,471 shares in the company, valued at $4,094,140.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Ueli Keller sold 2,675 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $60.42, for a total transaction of $161,623.50. Following the transaction, the director now owns 73,253 shares in the company, valued at $4,425,946.26. The disclosure for this sale can be found here. Insiders have sold 28,675 shares of company stock worth $1,640,329 over the last quarter. Company 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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