The stock of Ebix Inc (NASDAQ:EBIX) hit a new 52-week high and has $83.30 target or 36.00% above today’s $61.25 share price. The 8 months bullish chart indicates low risk for the $1.99 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $83.30 price target is reached, the company will be worth $716.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 166,813 shares traded hands. Ebix Inc (NASDAQ:EBIX) has risen 25.99% since April 19, 2016 and is uptrending. It has outperformed by 22.13% the S&P500.
According to Zacks Investment Research, “Ebix Inc is one of the leading international suppliers of software and e-commerce solutions to the insurance industry. The company strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations.”
Insitutional Activity: The institutional sentiment increased to 0.88 in 2016 Q2. Its up 0.07, from 0.81 in 2016Q1. The ratio increased, as 12 funds sold all Ebix Inc shares owned while 66 reduced positions. 25 funds bought stakes while 38 increased positions. They now own 22.00 million shares or 2.12% more from 21.55 million shares in 2016Q1.
Argentus Capital Ltd last reported 0% of its portfolio in the stock. National Bank Of America Corp De last reported 12,841 shares in the company. Moreover, Quantbot Technology Lp has 0.01% invested in Ebix Inc (NASDAQ:EBIX) for 1,515 shares. Hanseatic Mgmt has 0% invested in the company for 66 shares. California Public Employees Retirement Sys last reported 154,600 shares in the company. Price T Rowe Md reported 8,672 shares or 0% of all its holdings. State Street holds 0% of its portfolio in Ebix Inc (NASDAQ:EBIX) for 552,175 shares. Prudential Financial accumulated 0% or 62,012 shares. Susquehanna Grp Ltd Liability Partnership last reported 0% of its portfolio in the stock. Tower Rech Capital Lc (Trc) reported 1,727 shares or 0.01% of all its holdings. Meeder Asset Management Inc owns 470 shares or 0% of their US portfolio. The Massachusetts-based Babson Cap Mgmt Ltd Llc has invested 0.01% in Ebix Inc (NASDAQ:EBIX). Pinebridge Investments L P has 3,241 shares for 0.01% of their US portfolio. Thrivent Fin For Lutherans owns 12,310 shares or 0% of their US portfolio. Moreover, Blackrock Advsrs Limited Liability Corp has 0% invested in Ebix Inc (NASDAQ:EBIX) for 12,117 shares.
Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 2 sales for $236,932 net activity. $167,585 worth of Ebix Inc (NASDAQ:EBIX) was sold by Keller Hans Ueli on Tuesday, May 31. Kerris Robert F also sold $69,347 worth of Ebix Inc (NASDAQ:EBIX) shares.
More important recent Ebix Inc (NASDAQ:EBIX) news were published by: Forbes.com which released: “EBIX Inc. – A Long-Term Winner” on May 27, 2016, also Fool.com published article titled: “Ebix Inc. and Infosys Ltd. Soar as Stocks Drop”, Fool.com published: “Why Ebix Inc. Stock Gained 18% in April” on May 13, 2016. More interesting news about Ebix Inc (NASDAQ:EBIX) was released by: Finance.Yahoo.com and their article: “Patriot National Rejects $475 Million Offer from Ebix, Inc.” with publication date: November 08, 2016.
EBIX Company Profile
Ebix, Inc. (Ebix), incorporated on December 29, 2003, is a supplier of software and e-commerce solutions to the insurance, finance and healthcare industries. The Firm provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. The Firm conducts its activities through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS). Ebix operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance. Ebix’s focus in the area of broker systems is on designing and deploying back-end systems for international P&C insurance brokers across the world. Ebix’s focus in the area of carrier systems is on designing and deploying on-demand and back-end systems for P&C insurance companies. Ebix focus in RCS channel pertains to business process outsourcing services that include providing domain intensive project management, time and material consulting to clients across the world, and claims adjudication/settlement services, in addition to the creation and tracking of certificates of insurance issued in the United States and Australian markets. Ebix also provides software development, customization and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges and standard making bodies.
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