Ebix (EBIX) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Ebix (NASDAQ: EBIX) in the last few weeks:

• 11/12/2023 – Ebix was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/9/2023 – Ebix was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $5.00 price target on the stock.
• 11/4/2023 – Ebix was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/27/2023 – Ebix was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/5/2023 – Ebix is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/27/2023 – Ebix was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Ebix Stock Up 11.5 %

EBIX traded up $0.53 on Friday, hitting $5.15. 3,247,216 shares of the company traded hands, compared to its average volume of 943,019. Ebix, Inc. has a 12-month low of $3.11 and a 12-month high of $32.87. The company has a 50 day moving average of $8.07 and a 200-day moving average of $16.45. The stock has a market capitalization of $159.14 million, a PE ratio of 30.30 and a beta of 2.61.

Institutional Trading of Ebix

Several hedge funds have recently modified their holdings of EBIX. Headlands Technologies LLC acquired a new position in shares of Ebix during the 3rd quarter worth approximately $48,000. US Bancorp DE lifted its position in shares of Ebix by 485.7% in the second quarter. US Bancorp DE now owns 2,003 shares of the technology company’s stock valued at $50,000 after acquiring an additional 1,661 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Ebix by 411.8% during the first quarter. Envestnet Asset Management Inc. now owns 121,536 shares of the technology company’s stock valued at $64,000 after acquiring an additional 97,787 shares during the last quarter. Royal Bank of Canada increased its position in Ebix by 66.9% during the 2nd quarter. Royal Bank of Canada now owns 2,659 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Ebix by 56.6% in the 1st quarter. Captrust Financial Advisors now owns 2,051 shares of the technology company’s stock valued at $68,000 after purchasing an additional 741 shares during the last quarter. 66.08% of the stock is owned by institutional investors and hedge funds.

Ebix, Inc, together with its subsidiaries, provides on-demand infrastructure software exchanges and e-commerce services to the insurance, financial, travel, cash remittance, and healthcare industries in the United States and internationally. The company develops and deploys insurance and reinsurance exchanges on an on-demand basis using software-as-a-service (SaaS) enterprise solutions in the areas of customer relationship management, front-end and back-end systems, and outsourced administrative and risk compliance solutions.