Ebix Rises On Unusually High Volume (EBIX)

NEW YORK ( TheStreet) -- Ebix (Nasdaq: EBIX) is trading at unusually high volume Friday with 3.3 million shares changing hands. It is currently at 5.8 times its average daily volume and trading up 52 cents (+2.3%) at $23.04 as of 11:01 a.m. ET.

Ebix has a market cap of $1.2 billion and is part of the technology sector and computer software & services industry. Shares are up 25.6% year to date as of the close of trading on Thursday.

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 19.3, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 16.

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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