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Ebix Inc (EBIX)

  • Fri, Nov. 20, 8:10 AM
    | Fri, Nov. 20, 8:10 AM | Comment!
  • Mon, Nov. 16, 10:17 AM
    • Insurance software/Web services firm Ebix (EBIX -2%) states it's interested in making a 175 pence/share, or $685M, offer for U.K. software outsourcing/BPO services firm Xchanging (OTC:XCNGF). Such a bid would top a 170 pence/share offer Computer Sciences (CSC +0.4%) made last week, as well as the 160 pence/share deal Xchanging previously agreed to with peer Capita.
    • Both Ebix ($1.12B market cap) and CSC are offering cash for Xchanging. Ebix CEO Robin Raina: "We see substantial synergies, economies of scale and growth potential for the combined business. Our interest in making an offer for Xchanging plc is borne out of our belief that a combination of the two companies could be substantially and immediately accretive to Ebix's EPS while also adhering to our other stringent criteria."
    • Xchanging is up 5.6% in London to 178.00 pence, as markets bet the bidding war isn't over. Ebix, which recently shot higher following a Q3 beat, is down moderately. Per U.K. law, the company has until Dec. 9 to "announce a firm intention" to bid for Xchanging, or to declare it doesn't intend to do so.
    | Mon, Nov. 16, 10:17 AM | 4 Comments
  • Fri, Nov. 6, 7:42 AM
    • Ebix (NASDAQ:EBIX): Q3 EPS of $0.59 beats by $0.08.
    • Revenue of $66.81M (+31.5% Y/Y) beats by $1.69M.
    | Fri, Nov. 6, 7:42 AM | 18 Comments
  • Thu, Nov. 5, 5:30 PM
  • Wed, Oct. 14, 10:37 AM
    • Thanks in part to the addition of TD Bank as a lender, the size of Ebix's (EBIX +2.1%) credit facility has been upped by $50M to $240M.
    • Ebix, which launched a new $100M buyback in August, says the facility will be use to "fund its growth and share repurchase initiatives." The company had $28M in cash/short-term investments at the end of Q2, and $151M in debt.
    • Shares are up 52% YTD, but well below a May high of $38.02.
    | Wed, Oct. 14, 10:37 AM | 7 Comments
  • Mon, Aug. 24, 4:29 PM
    • The Nasdaq opened down 7.5%, furiously rallied almost to breakeven, and then sold off again in the afternoon to close down 3.8%. Some tech stocks managed to rise nonetheless, while many others posted 5%+ declines.
    • Major decliners included Citrix (CTXS -9.3%), Solera (SLH -8.9%), NCR (NCR -7.8%), Nuance (NUAN -6.9%), Infinera (INFN -6.4%), HomeAway (AWAY -6.6%), MagnaChip (MX -6.4%), Yandex (YNDX -7.5%), Neustar (NSR -6%), Ebix (EBIX -7.3%), SGI (SGI -8%), Monster (MWW -7.5%), Silver Spring (SSNI -6.6%), Perion (PERI -11%), and Synchronoss (SNCR -7.5%).
    • Solera's decline comes 4 days after the company confirmed it's exploring strategic alternatives, and 5 days after Bloomberg reported a sale is being explored. Yandex has been hit hard in recent weeks by the ruble and crude oil's decline. Infinera is down 20% over the last 3 trading days, albeit still up 34% YTD.
    • See also: Morning decliners, Chinese tech stocks, large-cap decliners
    | Mon, Aug. 24, 4:29 PM | 1 Comment
  • Fri, Aug. 21, 7:35 AM
    | Fri, Aug. 21, 7:35 AM | 2 Comments
  • Wed, Aug. 19, 9:24 AM
    • EBIX's new buyback comes on top of a prior $100M program (launched last year) that has $10M remaining. The company's total repurchase authorization of $110M is good for buying back 11% of shares at current levels. (PR)
    • The insurance/healthcare software and services firm had $28.4M in cash to pay for buybacks with at the end of Q2, along with $89.5M in potential credit line capacity. It suggested in its Q2 report a new $100M authorization would arrive.
    | Wed, Aug. 19, 9:24 AM | 6 Comments
  • Fri, Aug. 7, 9:54 AM
    • After rising 255% Y/Y in Q1, EBIX's Risk Compliance Solutions (RCS) revenue rose 264% in Q2 to $13.3M; acquisitions helped out. The core Exchanges segment saw revenue rise 13% to $46.8M, while Broker Systems revenue fell 28% to $3.5M and Carrier Systems 33% to $1.1M.
    • GAAP costs/expenses rose 30% Y/Y to $44.3M (compares with 26% revenue growth), and $12.2M was spent on buybacks. $20M was left on Ebix's $100M buyback plan as of July 31; the company is "likely" to authorize a new $100M buyback once the current one is used up.
    • The company says it signed "a number of key new contracts" in Q2, and predicts it can "improve its operating margins significantly through a number of efficiency initiatives that have been put in place." A strong dollar had a 5% impact on Q2 revenue growth.
    • Q2 results, PR
    | Fri, Aug. 7, 9:54 AM | Comment!
  • Fri, Aug. 7, 7:31 AM
    • Ebix (NASDAQ:EBIX): Q2 EPS of $0.54 beats by $0.06.
    • Revenue of $64.7M (+25.7% Y/Y) beats by $1.2M.
    • Press Release
    | Fri, Aug. 7, 7:31 AM | 2 Comments
  • Thu, Aug. 6, 5:30 PM
  • Fri, May 15, 7:52 AM
    | Fri, May 15, 7:52 AM | Comment!
  • Tue, May 12, 3:12 PM
    • Today's notable tech gainers include insurance software/data exchange provider Ebix (EBIX +5%), Chinese polysilicon maker Daqo (DQ +6.9%), networking SRAM maker MoSys (MOSY +7.7%), enterprise mobility management software firm MobileIron (MOBL +6.3%), U.S. solar installer Solar3D (SLTD +4.3%), and Korean analog/mixed-signal chipmaker MagnaChip (MX +5.3%).
    • Notable decliners include Chinese online retailers (JD -4.4%) and Vipshop (VIPS -5%), Chinese Internet mini-conglomerate Qihoo (QIHU -4.6%), and cloud online learning software provider 2U (TWOU -5.6%). The Nasdaq is down 0.2%.
    • Daqo is now up 11% since last Friday's mixed Q1 report. Ebix is up 18% since delivering a Q1 beat last Friday. MobileIron's gains come after the company named well-traveled tech vet Simon Biddiscombe its interim CFO. Solar3D is rallying after issuing a PR that sings the praises a of an upbeat Bernstein report on solar cost declines.
    • Qihoo and JD are more than reversing the Monday gains seen amid a Chinese Internet stock rally. 2U has now fully given back the gains seen last week following its Q1 beat.
    • Previously covered: Rackspace, Everyday Health, magicJack, WidePoint, LivePerson, YY, STMicroelectronics, ChipMOS, iDreamSky, Leidos, Photronics
    | Tue, May 12, 3:12 PM | 2 Comments
  • Fri, May 8, 5:40 PM
    | Fri, May 8, 5:40 PM | 2 Comments
  • Fri, May 8, 12:55 PM
    • EBIX has made fresh highs after topping Q1 estimates. A 255% Y/Y increase in Risk Compliance Solutions (RCS) revenue contributed to the beat, as did an 11% increase in Exchange division revenue to $46.7M. Broker Systems revenue fell 16% to $3.7M, and Carrier System revenue 17% to $1.2M.
    • Ebix attributes its sales growth to "revenue growth from Life, Annuity, Underwriting, CRM and Health Ecommerce services in addition to revenue growth generated from the Company's 2014 acquisitions of HealthCare Magic, Vertex, and Oakstone, partially offset by the drop in revenue from international locations as a result of the strengthening U.S. dollar and a decrease in revenues from the company's pharmaceutical and P&C Carrier backend operations." A strong dollar had a $1.9M impact on sales.
    • EPS received a lift from $22.3M worth of buybacks. Thanks in part to acquisitions, GAAP costs/expenses rose 35% Y/Y to $43.3M.
    • Q1 results, PR
    | Fri, May 8, 12:55 PM | 1 Comment
  • Fri, May 8, 7:34 AM
    • Ebix (NASDAQ:EBIX): Q1 EPS of $0.51 beats by $0.08.
    • Revenue of $63.8M (+24.1% Y/Y) beats by $2.8M.
    • Press Release
    | Fri, May 8, 7:34 AM | 7 Comments
Company Description
Ebix Inc provides a series of application software products for the insurance industry from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries.