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Stock Investors Bid Up Shares of Ebix, Up 2.7%

Published on Wed, 02/13/2013 - 11:18
By Mallory Stone

Up 2.7% to $17.73, Ebix (NASDAQ:EBIX), is one of today's notable movers. The Dow Jones Industrial Average is now trading fractionally lower to 13,998 and the S&P is trading fractionally higher to 1,522.

In the past 52 weeks, shares of Ebix have traded between a low of $13.02 and a high of $30.35 and are now at $17.73, which is 36% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

Ebix (NASDAQ:EBIX) has potential upside of 63.6% based on a current price of $17.73 and analysts' consensus price target of $29.00. Ebix shares should encounter resistance at the 200-day moving average (MA) of $19.68 and support at the 50-day MA of $16.36.

Ebix, Inc. supplies software and electronic commerce solutions to the insurance industry. The Company provides a series of application software ranging from carrier systems, agency systems, and exchanges to custom software development for all entities involved in the insurance and financial industries. Ebix provides products, support, and consultancy to customers on several continents.

By Mallory Stone