Ashford Capital Management Inc Lowers stake in Ebix Inc (EBIX)

Ebix Inc (EBIX) : Ashford Capital Management Inc reduced its stake in Ebix Inc by 2.61% during the most recent quarter end. The investment management company now holds a total of 744,600 shares of Ebix Inc which is valued at $34.6 Million after selling 19,950 shares in Ebix Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Ebix Inc makes up approximately 8.22% of Ashford Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc reduced its stake in EBIX by selling 78,665 shares or 3.83% in the most recent quarter. The Hedge Fund company now holds 1,977,869 shares of EBIX which is valued at $91.9 Million. Ebix Inc makes up approx 0.01% of Vanguard Group Inc’s portfolio.Omers Administration Corp reduced its stake in EBIX by selling 3,600 shares or 18.75% in the most recent quarter. The Hedge Fund company now holds 15,600 shares of EBIX which is valued at $724,776. Ebix Inc makes up approx 0.02% of Omers Administration Corp’s portfolio.First Trust Advisors Lp reduced its stake in EBIX by selling 488,043 shares or 40.52% in the most recent quarter. The Hedge Fund company now holds 716,488 shares of EBIX which is valued at $33.3 Million. Ebix Inc makes up approx 0.11% of First Trust Advisors Lp’s portfolio.Aperio Group boosted its stake in EBIX in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 7,419 shares of Ebix Inc which is valued at $357,002.

Ebix Inc closed down -0.63 points or -1.37% at $45.41 with 1,49,154 shares getting traded on Wednesday. Post opening the session at $46.17, the shares hit an intraday low of $45.2101 and an intraday high of $46.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Ebix Inc reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.58. The company had revenue of $71.10 million for the quarter, compared to analysts expectations of $69.35 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Ebix Inc. (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry including carrier systems agency systems and exchanges as well as custom software development. Ebix conducts its operation through four channels: Exchanges Carrier Systems Broker Systems and Business Process Outsourcing. 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 designs and deploys back-end systems for P&C insurance brokers across the world. Ebix also designs and deploys on-demand and back-end systems for P&C insurance companies. Ebix provides business process outsourcing services including project management and Risk Compliance Solutions (RCS) service offerings in the areas of insurance certificate creation and insurance certificate tracking.

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