Peregrine Capital Management LLC Has $4.45 Million Position in Ebix Inc (NASDAQ:EBIX)

Peregrine Capital Management LLC grew its stake in Ebix Inc (NASDAQ:EBIX) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,103 shares of the technology company’s stock after purchasing an additional 2,844 shares during the period. Peregrine Capital Management LLC owned about 0.65% of Ebix worth $4,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in shares of Ebix by 5.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 18,658 shares of the technology company’s stock valued at $283,000 after purchasing an additional 932 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Ebix by 76.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,729 shares of the technology company’s stock valued at $148,000 after buying an additional 4,202 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Ebix by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,201 shares of the technology company’s stock valued at $170,000 after buying an additional 3,654 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in Ebix by 72.8% in the 1st quarter. Balyasny Asset Management LLC now owns 63,930 shares of the technology company’s stock valued at $970,000 after buying an additional 26,940 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Ebix by 7.3% in the 1st quarter. Invesco Ltd. now owns 100,882 shares of the technology company’s stock valued at $1,532,000 after buying an additional 6,873 shares during the last quarter. Institutional investors own 71.93% of the company’s stock.

A number of brokerages recently issued reports on EBIX. BMO Capital Markets dropped their price objective on shares of Ebix from $43.00 to $34.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. ValuEngine upgraded shares of Ebix from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Craig Hallum dropped their price objective on shares of Ebix from $80.00 to $75.00 in a report on Thursday, April 30th. Finally, BidaskClub lowered shares of Ebix from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.31.

Ebix stock opened at $22.06 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.71 and a current ratio of 1.71. Ebix Inc has a 52-week low of $8.75 and a 52-week high of $46.50. The firm has a 50 day moving average price of $22.10 and a two-hundred day moving average price of $23.83. The firm has a market cap of $672.83 million, a price-to-earnings ratio of 7.05 and a beta of 2.12.

Ebix (NASDAQ:EBIX) last released its quarterly earnings results on Monday, May 11th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Ebix had a net margin of 16.63% and a return on equity of 20.90%. The firm had revenue of $137.90 million during the quarter, compared to analyst estimates of $139.43 million. During the same quarter last year, the business earned $1.04 EPS. The company’s revenue was down 3.5% compared to the same quarter last year.

In other news, Director Neil D. Eckert sold 10,000 shares of Ebix stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $23.92, for a total value of $239,200.00. Following the completion of the sale, the director now owns 91,987 shares in the company, valued at approximately $2,200,329.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.20% of the company’s stock.

About Ebix

Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

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Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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