Action in the price today suggests it is only going higher in price. 18 to 19 before next earnings imo. Thing is, the longer the news is good, the more 'coiled' the spring for this to pop up 5 bucks at next report.
No news + FCF generation = good news for EBIX. Longer the gov't takes, the less likely this is a wipeout / fraud (though you can't fake cash, so I am nearly 99% sure fraud risk is gone). Now it's just a matter of whether or not there is a tax hit, and how much for (remember, lots of NOLs).