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Ebix, Inc. (EBIX) provides on-demand software and e-commerce solutions for 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 domain intensive project management, and time and material consulting engagements, as well as the provision of claims adjudication and settlement, call center, and back office support.
Further, it offers risk compliance solution services, such as insurance certificate origination, certificate tracking, claims adjudication call center, and back office support; and 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, the company offers software development, customization, and consulting services to various companies in the insurance industry, such as carriers, brokers, exchanges, and standard making bodies.
Shares of this company have formed a bullish "cup and handle" formation and higher share prices are expected for this stock. Note the 50-day moving average shown in green. Higher share prices are expected for this stock.
52-Weeks Trading Range: $19.78 - $57.20
Entry Point: $56.50
Stop Loss: $53.50
Target Price: $62.00
EBIX closed at $56.95
