Parallax Volatility Advisers L.P. Takes $2.23 Million Position in Ebix, Inc. (NASDAQ:EBIX)

Parallax Volatility Advisers L.P. acquired a new stake in Ebix, Inc. (NASDAQ:EBIX – Get Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 117,773 shares of the technology company’s stock, valued at approximately $2,234,000. Parallax Volatility Advisers L.P. owned about 0.38% of Ebix as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Arbitrage SNC raised its holdings in shares of Ebix by 123.7% in the third quarter. BNP Paribas Arbitrage SNC now owns 19,081 shares of the technology company’s stock valued at $362,000 after purchasing an additional 10,551 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Ebix by 3.9% in the third quarter. Thrivent Financial for Lutherans now owns 24,280 shares of the technology company’s stock valued at $461,000 after purchasing an additional 901 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Ebix by 25.0% in the third quarter. Two Sigma Advisers LP now owns 114,096 shares of the technology company’s stock valued at $2,164,000 after purchasing an additional 22,800 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Ebix by 225.4% in the third quarter. Two Sigma Investments LP now owns 95,203 shares of the technology company’s stock valued at $1,806,000 after purchasing an additional 65,948 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Ebix by 5.3% in the third quarter. Vanguard Group Inc. now owns 2,935,220 shares of the technology company’s stock valued at $55,682,000 after buying an additional 147,280 shares in the last quarter. 67.17% of the stock is currently owned by institutional investors and hedge funds.

Ebix Trading Down 7.2 %

NASDAQ:EBIX opened at $13.69 on Friday. Ebix, Inc. has a 1-year low of $12.04 and a 1-year high of $37.87. The firm has a fifty day simple moving average of $18.10 and a 200 day simple moving average of $19.39. The stock has a market capitalization of $423.02 million, a PE ratio of 6.52 and a beta of 2.42.

Analysts Set New Price Targets

EBIX has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Ebix in a research note on Thursday. They issued a “hold” rating for the company. Craig Hallum decreased their target price on shares of Ebix from $40.00 to $35.00 in a research note on Thursday.

Ebix Company Profile

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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.