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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 "flag" on rumors that the firm won a contract to manage London's insurance market know as Placing Platform Limited (PPL). The PPL system allows London insurers to exchnage bids as well as transfer funds on the same platform. Furthermore, EBIX is set to report its quarterly result on March 13th before the open. Due to the above mentioned contract, we expect a strong report from the company. As of February 15, 2015, Ebix had a short interest of over 35% of its total shares outstanding, making the stock one of the most shorted stocks in the markets. A strong report from the company should expect in a massive short-squeeze!
We expect shares to see a pullback to their 30-day moving average (shown in green). Note the entry point. Use a Limit Order, not a Market Order and have patience!
52-Weeks Trading Range: $12.12 - $28.49
Entry Point: $25.10
Stop Loss: $23.60
Target Price: $27.65
EBIX reached our target. Closed at $28.14.
