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Ebix, Inc. (EBIX) provides software and e-commerce solutions to the insurance industry.
The company operates data exchanges, which connect various entities within the insurance markets and enables the participant to carry and process data from one end to another in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance.
It also focuses in the area of broker systems on designing and deploying back-end systems consisting of eGlobal for multinational P&C insurance brokers; WinBeat for P&C brokers in the Australian and New Zealand markets; and EbixASP, a system for the P&C insurance brokers in the United States.
In addition, the company offers business process outsourcing services, which include certificate origination, certificate tracking, claims adjudication call center, and back office support. Further, it provides carrier systems, such as Ebix Advantage and Ebix Advantageweb targeted at small, medium, and large P&C carriers in the United States and internationally that operate in the personal, commercial, and specialty line areas of insurance.
Additionally, Ebix, Inc. offers software development, customization, and consulting services to various companies in the insurance industry, such as carriers, brokers, exchanges, and standard making bodies.
Shares have formed a bullish "cup and handle" on several positive developments. The compnay reported better than expected results, an active investor was able to get two seats on the borad and recently the company's credit was raised. Higher share prices are expected for this stock.
52-Weeks Trading Range: $12.12 - $23.76
Entry Point: $23.00
Stop Loss: $21.85
Target Price: $25.30
Taking profits on EBIX at $25.74 after it reached our target.
