Ebix tops amid SEC probe talk

Investor's Business Daily

Insurance software maker Ebix (EBIX) beat Q3 earnings estimates, as EPS rose 12% to 46 cents, 6 cents above analyst consensus. Revenue hiked 26% to $43.8 mil as a result of acquisitions and higher demand. But shares continued to fall after a Nov. 5 Bloomberg report, citing 4 people close to the matter, that the SEC is probing the company for accounting practices. Shares plunged 14% Mon. after the report. Ebix CEO Robin Raina has denied the company is being investigated. Shares fell 7% to 17.12 Thu.

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