Claus Moller‘s P2 Capital Partners was eager to acquire a more valuable equity position in Ebix Inc (NASDAQ:EBIX), as revealed in a new 13D filing with the SEC, in which it reported raising its stake in the company. The fund’s stake in Ebix (NASDAQ:EBIX) now consists of 1.76 million shares, which account for 5.4% of the float. Previously, P2 Capital Partners held 1.63 million shares of the company, according to its 13F filing for the end of June. In addition to its position, the fund may engage in negotiations with the company’s management in order to suggest ways to improve shareholder value.
Ebix Inc (NASDAQ:EBIX) is a company that offers professional software and e-commerce solutions to the insurance industry. Over the past 12 months, the company’s shares have gained 65.45%. For the second quarter of 2016, Ebix reported EPS of $0.70 and revenue of $72.57 million, both of which topped analysts’ estimates of $0.63 and $71.2 million, respectively.
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14 investors from within our system were bullish on Ebix Inc (NASDAQ:EBIX) at the end of the June quarter, up from 12 at the end of March. The investors with the largest positions in the company on June 30, aside from P2 Capital Partners, included Chuck Royce’s Royce & Associates (82,997 shares), Jim Simons’ Renaissance Technologies (76,380 shares), and Robert B. Gillam’s McKinley Capital Management (72,121 shares).
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| P2 Capital Partners, LLC | 0 | 1,762,494 | 0 | 1,762,494 | 1,762,494 | 5.4% |
| P2 Capital Master Fund I, L.P. | 0 | 659,643 | 0 | 659,643 | 659,643 | 2.0% |
| P2 Capital Master Fund VI, L.P. | 0 | 840,177 | 0 | 840,177 | 840,177 | 2.6% |
| P2 Capital Master Fund XII, L.P. | 0 | 262,674 | 0 | 262,674 | 262,674 | 0.8% |
| Claus Moller | 0 | 1,762,494 | 0 | 1,762,494 | 1,762,494 | 5.4% |
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Page 1 of 10 – SEC Filing
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| UNITED STATES |
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| SECURITIES AND EXCHANGE COMMISSION |
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| Washington, D.C. 20549 |
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| SCHEDULE 13D |
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Under the Securities Exchange Act of 1934
Ebix, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
278715206
(CUSIP Number)
Jason Carri
P2 Capital Partners, LLC
590 Madison Avenue
25th Floor
New York, NY 10022
(212) 508-5500
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications
October 14, 2016
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
