What happened Shares of Ebix (NASDAQ: EBIX) gained 31.4% in March 2021, according to data from S&P Global Market Intelligence. The financial technology company, which sells software used to manage insurance, finance, and healthcare businesses, rebounded from a traumatic February drop when it picked a new auditor and announced a preliminary filing date for its belated annual report. So what Ebix shares plunged 54% in the space of two days near the end of February when the expected fourth-quarter report was replaced by a guidance update and an accounting scandal. The company's official accounting firm, RSM US, resigned due to incomplete documentation for some unusual gift card transactions in India. Ebix picked KG Somani to replace RSM. The new firm is a well-respected accounting network based in New Delhi, with a five-decade history of auditing local banks and insurance companies. Share price started climbing on the news and had gained 35% a week later. Image source: Getty Images. Now what The completed fourth-quarter and annual reports are expected on or around April 20. The Street consensus calls for earnings near $0.79 per share on sales in the neighborhood of $188 million for the quarter, compared to earnings of $0.81 per share and revenue of $146 million in the year-ago quarter. It's unclear how significant the Indian gift card restatements might be. So Ebix's March jump was more of a partial return to normalcy than a triumphant victory march. The highly volatile stock has now gained 158% in 52 weeks but it also trades 57% lower from a three-year perspective. That delayed filing should answer a lot of questions about Ebix's financial health. It just remains to be seen whether those answers are any good or not. 10 stocks we like better than EbixWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Ebix wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source