The stock of Ebix Inc (NASDAQ:EBIX) hit a new 52-week high and has $90.00 target or 52.00% above today’s $59.21 share price. The 6 months bullish chart indicates low risk for the $1.93B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $90.00 price target is reached, the company will be worth $1.00 billion 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 735,310 shares traded hands or 268.25% up from the average. Ebix Inc (NASDAQ:EBIX) has risen 46.35% since April 7, 2016 and is uptrending. It has outperformed by 41.57% 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 decreased to 0.81 in 2016 Q2. Its down 0.08, from 0.89 in 2016Q1. The ratio is negative, 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.
First Manhattan Communications, a New York-based fund reported 1,900 shares. Tiaa Cref Inv Mngmt, a New York-based fund reported 78,403 shares. Millrace Asset Group Inc reported 28,000 shares or 2.19% of all its holdings. Alliancebernstein Lp owns 43,000 shares or 0% of their US portfolio. Century Cap Mngmt Ltd has 0.51% invested in the company for 96,266 shares. Moreover, Blackrock Institutional Trust Co Na has 0% invested in Ebix Inc (NASDAQ:EBIX) for 620,797 shares. Nationwide Fund Advsr has 0% invested in the company for 16,548 shares. Louisiana State Employees Retirement holds 11,300 shares or 0.03% of its portfolio. Deutsche Fincl Bank Ag owns 79,328 shares or 0% of their US portfolio. Cadence Cap Mgmt Lc has 5,340 shares for 0.02% of their US portfolio. New York State Teachers Retirement Sys last reported 0.01% of its portfolio in the stock. Royal Natl Bank Of Canada holds 17,956 shares or 0% of its portfolio. Blackrock Management Ltd Limited Liability Company holds 0.01% of its portfolio in Ebix Inc (NASDAQ:EBIX) for 105,062 shares. New York State Common Retirement Fund has invested 0% of its portfolio in Ebix Inc (NASDAQ:EBIX). Geode Mngmt Limited Liability Co reported 181,566 shares or 0% of all its holdings.
Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 1 sale for $167,585 net activity. Keller Hans Ueli had sold 3,684 shares worth $167,585.
More notable recent Ebix Inc (NASDAQ:EBIX) news were published by: Prnewswire.com which released: “Patriot National Rejects $475 Million Offer from Ebix, Inc.” on November 08, 2016, also Forbes.com with their article: “EBIX Inc. – A Long-Term Winner” published on May 27, 2016, Fool.com published: “Ebix Inc. and Infosys Ltd. Soar as Stocks Drop” on April 15, 2016. More interesting news about Ebix Inc (NASDAQ:EBIX) were released by: Fool.com and their article: “Why Ebix Inc. Stock Gained 18% in April” published on May 13, 2016 as well as Seekingalpha.com‘s news article titled: “Ebix Inc.: Is This Total Return Opportunity Worth The Price?” with publication date: August 05, 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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