Ebix Inc (NASDAQ:EBIX) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus target price of $88.50 for the company and are forecasting that the company will post $0.76 earnings per share for the current quarter, according to Zacks. Zacks has also given Ebix an industry rank of 92 out of 265 based on the ratings given to its competitors.
Several analysts recently weighed in on EBIX shares. Craig Hallum upped 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 raised Ebix from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Monday, November 20th. Sidoti upped their price objective on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, BidaskClub raised Ebix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.35%. Ebix’s dividend payout ratio (DPR) is presently 9.71%.
In related news, EVP Leon Royden Thomas D’apice sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $77.45, for a total value of $271,075.00. Following the transaction, the executive vice president now directly owns 63,971 shares of the company’s stock, valued at approximately $4,954,553.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in EBIX. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ebix during the 3rd quarter valued at $203,000. Amalgamated Bank bought a new position in shares of Ebix during the 3rd quarter valued at $214,000. Janus Henderson Group PLC bought a new position in shares of Ebix during the 3rd quarter valued at $214,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Ebix by 187.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,301 shares of the technology company’s stock valued at $215,000 after buying an additional 2,153 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ebix by 32.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,482 shares of the technology company’s stock valued at $227,000 after buying an additional 861 shares during the period. 63.49% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Week Herald and is the property of of Week Herald. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://weekherald.com/2018/02/23/zacks-ebix-inc-ebix-given-consensus-recommendation-of-strong-buy-by-brokerages.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ebix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix and related companies with MarketBeat.com's FREE daily email newsletter.