Shell Asset Management Co. Lowers Stock Position in Ebix, Inc. (NASDAQ:EBIX)

Shell Asset Management Co. cut its holdings in shares of Ebix, Inc. (NASDAQ:EBIX – Get Rating) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,070 shares of the technology company’s stock after selling 2,040 shares during the period. Shell Asset Management Co.’s holdings in Ebix were worth $201,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its holdings in Ebix by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 42,117 shares of the technology company’s stock valued at $841,000 after acquiring an additional 607 shares during the period. Yousif Capital Management LLC raised its stake in shares of Ebix by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 21,836 shares of the technology company’s stock worth $724,000 after buying an additional 625 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Ebix by 16.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 4,674 shares of the technology company’s stock worth $89,000 after buying an additional 677 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Ebix by 56.6% during the 1st quarter. Captrust Financial Advisors now owns 2,051 shares of the technology company’s stock worth $68,000 after buying an additional 741 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Ebix by 2.6% during the 4th quarter. New York State Teachers Retirement System now owns 32,781 shares of the technology company’s stock worth $654,000 after buying an additional 822 shares during the last quarter. 67.17% of the stock is currently owned by hedge funds and other institutional investors.

Ebix Trading Down 3.1 %

Ebix stock opened at $16.10 on Thursday. The stock has a market cap of $497.54 million, a PE ratio of 7.67 and a beta of 2.37. The stock has a 50-day moving average price of $15.49 and a 200 day moving average price of $17.89. Ebix, Inc. has a 52 week low of $11.74 and a 52 week high of $33.42.

Ebix (NASDAQ:EBIX – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The technology company reported $0.34 EPS for the quarter. The firm had revenue of $255.21 million during the quarter. Ebix had a return on equity of 11.34% and a net margin of 6.16%.

Wall Street Analyst Weigh In

EBIX has been the subject of several research reports. StockNews.com raised Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Craig Hallum lifted their price target on Ebix from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th.

Ebix Company Profile

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Ebix, Inc engages in the development and deployment of insurance and reinsurance exchanges on an on-demand basis using software-as-a-service (“”SaaS””) enterprise solutions in the areas of customer relationship management (“”CRM””), front-end and back-end systems, and outsourced administrative and risk compliance.