NEW YORK ( TheStreet) -- Ebix (Nasdaq: EBIX) hit a new 52-week high Monday as it traded at $29.72 compared with its previous 52-Week high of $29.61. Ebix is changing hands at $29.66 with 288,124 shares traded as of 11:31 a.m. ET. Average volume has been 568,500 shares over the past 30 days.

Ebix has a market cap of $1.1 billion and is part of the technology sector and computer software & services industry. Shares are up 18.6% year to date as of the close of trading on Friday.

Ebix, Inc., together with its subsidiaries, provides software and e-commerce solutions to the insurance industry primarily in North America, Australia, New Zealand, India, and Singapore. The company has a P/E ratio of 18.3, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 15.8.
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TheStreet Ratings rates Ebix as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Ebix Ratings Report.

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