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

Parallax Volatility Advisers L.P. bought a new stake in Ebix, Inc. (NASDAQ:EBIX – Get Rating) in the third quarter, HoldingsChannel.com reports. The firm bought 117,773 shares of the technology company’s stock, valued at approximately $2,234,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position 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 acquiring an additional 147,280 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Ebix by 11.7% in the first quarter. Wasatch Advisors Inc. now owns 1,264,573 shares of the technology company’s stock valued at $41,921,000 after acquiring an additional 132,361 shares during the period. Dimensional Fund Advisors LP raised its stake in Ebix by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,155,733 shares of the technology company’s stock valued at $21,924,000 after purchasing an additional 67,409 shares in the last quarter. State Street Corp raised its stake in Ebix by 1.1% in the second quarter. State Street Corp now owns 1,022,848 shares of the technology company’s stock valued at $17,286,000 after purchasing an additional 11,257 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Ebix in the second quarter valued at about $15,591,000. Institutional investors own 67.17% of the company’s stock.

Ebix Stock Down 7.2 %

EBIX stock opened at $13.69 on Friday. The company has a market cap of $423.02 million, a PE ratio of 6.52 and a beta of 2.42. The business has a 50-day simple moving average of $18.10 and a 200 day simple moving average of $19.39. Ebix, Inc. has a 52 week low of $12.04 and a 52 week high of $37.87.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EBIX. StockNews.com began coverage on Ebix in a research note on Thursday. They issued a “hold” rating for the company. Craig Hallum dropped their price target on Ebix from $40.00 to $35.00 in a research note on Thursday.

About Ebix

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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.