Bank of New York Mellon Corp Cuts Stake in Ebix, Inc. (NASDAQ:EBIX)

Bank of New York Mellon Corp decreased its holdings in Ebix, Inc. (NASDAQ:EBIX) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 378,414 shares of the technology company’s stock after selling 3,789 shares during the period. Bank of New York Mellon Corp owned approximately 1.22% of Ebix worth $9,536,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in shares of Ebix by 56.6% in the 1st quarter. Captrust Financial Advisors now owns 2,051 shares of the technology company’s stock valued at $68,000 after purchasing an additional 741 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Ebix during the 1st quarter valued at $106,000. Denali Advisors LLC bought a new stake in Ebix during the 2nd quarter valued at $141,000. Teachers Retirement System of The State of Kentucky bought a new stake in Ebix during the 3rd quarter valued at $135,000. Finally, Hsbc Holdings PLC bought a new stake in Ebix during the 1st quarter valued at $277,000. Hedge funds and other institutional investors own 66.08% of the company’s stock.

Ebix Trading Up 11.5 %

Shares of NASDAQ EBIX opened at $5.15 on Friday. Ebix, Inc. has a 12 month low of $3.11 and a 12 month high of $32.87. The firm has a market capitalization of $159.14 million, a PE ratio of 30.30 and a beta of 2.61. The firm has a fifty day simple moving average of $7.87 and a two-hundred day simple moving average of $16.38.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Ebix from a “hold” rating to a “sell” rating in a report on Sunday, November 12th. Craig Hallum lowered shares of Ebix from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a report on Thursday, November 9th.

About Ebix

Ebix, Inc, together with its subsidiaries, provides on-demand infrastructure software exchanges and e-commerce services to the insurance, financial, travel, cash remittance, and healthcare industries in the United States and internationally. The company develops and deploys insurance and reinsurance exchanges on an on-demand basis using software-as-a-service (SaaS) enterprise solutions in the areas of customer relationship management, front-end and back-end systems, and outsourced administrative and risk compliance solutions.