Texas Permanent School Fund Decreases Stake in Ebix, Inc. (NASDAQ:EBIX)

Texas Permanent School Fund lowered its position in shares of Ebix, Inc. (NASDAQ:EBIX – Get Rating) by 6.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,673 shares of the technology company’s stock after selling 1,124 shares during the quarter. Texas Permanent School Fund owned about 0.05% of Ebix worth $313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EBIX. Millennium Management LLC purchased a new position in Ebix in the 2nd quarter worth approximately $15,591,000. Dimensional Fund Advisors LP boosted its holdings in Ebix by 26.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 857,361 shares of the technology company’s stock worth $28,424,000 after acquiring an additional 176,703 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Ebix by 338.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 219,454 shares of the technology company’s stock valued at $7,275,000 after buying an additional 169,398 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ebix by 5.3% during the 3rd 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 during the last quarter. Finally, Wasatch Advisors Inc. boosted its stake in shares of Ebix by 11.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,264,573 shares of the technology company’s stock valued at $41,921,000 after buying an additional 132,361 shares during the last quarter. Hedge funds and other institutional investors own 67.17% of the company’s stock.

Ebix Stock Performance

EBIX stock opened at $17.45 on Friday. The firm has a market cap of $539.21 million, a P/E ratio of 10.20 and a beta of 2.37. Ebix, Inc. has a 12-month low of $11.74 and a 12-month high of $32.59. The stock’s 50 day simple moving average is $15.40 and its 200 day simple moving average is $17.73.

Ebix (NASDAQ:EBIX – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The technology company reported $0.34 earnings per share (EPS) for the quarter. The business had revenue of $255.21 million for the quarter. Ebix had a return on equity of 10.27% and a net margin of 5.22%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EBIX. StockNews.com began coverage on Ebix in a research note on Thursday. They set a “hold” rating for the company. Craig Hallum increased their target price on Ebix from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th.

Ebix 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.