Steinberg Global Asset Management Has $219,000 Stake in Ebix, Inc. (NASDAQ:EBIX)

Steinberg Global Asset Management continued to hold its stake in Ebix, Inc. (NASDAQ:EBIX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,060 shares of the technology company’s stock at the end of the second quarter. Steinberg Global Asset Management’s holdings in Ebix were worth $219,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EBIX. Norges Bank acquired a new stake in Ebix during the fourth quarter worth about $7,916,000. Teachers Advisors LLC boosted its stake in Ebix by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 41,288 shares of the technology company’s stock worth $2,355,000 after buying an additional 1,795 shares during the last quarter. Creative Planning boosted its stake in Ebix by 189.1% in the first quarter. Creative Planning now owns 2,278 shares of the technology company’s stock worth $140,000 after buying an additional 1,490 shares during the last quarter. Bank of Montreal Can boosted its stake in Ebix by 1.5% in the first quarter. Bank of Montreal Can now owns 11,868 shares of the technology company’s stock worth $727,000 after buying an additional 178 shares during the last quarter. Finally, Navellier & Associates Inc boosted its position in shares of Ebix by 9.4% in the first quarter. Navellier & Associates Inc now owns 4,986 shares of the technology company’s stock valued at $305,000 after buying an additional 430 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Ebix, Inc. (EBIX) opened at 56.80 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 18.50 and a beta of 1.76. Ebix, Inc. has a 52 week low of $52.38 and a 52 week high of $65.10. The stock’s 50 day moving average is $56.60 and its 200 day moving average is $58.22.

Ebix (NASDAQ:EBIX) last released its earnings results on Tuesday, August 8th. The technology company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. The company had revenue of $87.39 million during the quarter, compared to analysts’ expectations of $81.35 million. Ebix had a return on equity of 22.02% and a net margin of 30.69%. Analysts predict that Ebix, Inc. will post $3.01 EPS for the current fiscal year.

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EBIX has been the subject of several research reports. Zacks Investment Research cut shares of Ebix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub raised shares of Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th.

In other news, VP Graham John Prior sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $55.33, for a total value of $1,023,605.00. Following the completion of the transaction, the vice president now owns 18,506 shares in the company, valued at approximately $1,023,936.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.00% of the company’s stock.

About Ebix

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).

Institutional Ownership by Quarter for Ebix (NASDAQ:EBIX)

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