Envestnet Asset Management Inc. Sells 4,583 Shares of Ebix, Inc. (NASDAQ:EBIX)

Envestnet Asset Management Inc. trimmed its holdings in shares of Ebix, Inc. (NASDAQ:EBIX) by 9.0% during the second quarter, Holdings Channel.com reports. The fund owned 46,557 shares of the technology company’s stock after selling 4,583 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ebix were worth $1,578,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Ebix during the first quarter worth about $31,000. Captrust Financial Advisors grew its stake in Ebix by 2,400.0% during the first quarter. Captrust Financial Advisors now owns 1,250 shares of the technology company’s stock worth $40,000 after buying an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Ebix during the first quarter worth about $170,000. Handelsbanken Fonder AB acquired a new stake in Ebix during the second quarter worth about $277,000. Finally, BNP Paribas Arbitrage SA grew its stake in Ebix by 45.5% during the first quarter. BNP Paribas Arbitrage SA now owns 9,644 shares of the technology company’s stock worth $309,000 after buying an additional 3,018 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ebix stock opened at $26.96 on Tuesday. The company has a market capitalization of $834.22 million, a price-to-earnings ratio of 10.17 and a beta of 2.72. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.94. Ebix, Inc. has a 12-month low of $17.83 and a 12-month high of $64.14. The firm’s 50-day moving average price is $29.15 and its two-hundred day moving average price is $30.37.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Monday, August 9th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The firm had revenue of $246.32 million for the quarter, compared to the consensus estimate of $282.00 million. Ebix had a net margin of 8.93% and a return on equity of 15.37%. The business’s revenue for the quarter was up 121.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, September 3rd were paid a $0.075 dividend. The ex-dividend date was Thursday, September 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.11%.

Ebix Profile

Ebix, Inc engages in the provision of software and e-commerce services to the insurance, finance, and healthcare industries. It operates through the following product and service channels: EbixCash Exchanges, Insurance Exchanges, and Risk Compliance Solutions. The EbixCash Exchanges channel offers money transfer, payment, and ticketing and travel services.

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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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