Victory Capital Management Inc. Raises Stake in IBEX Limited (NASDAQ:IBEX)

Victory Capital Management Inc. lifted its position in IBEX Limited (NASDAQ:IBEX) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,657 shares of the company’s stock after purchasing an additional 3,450 shares during the period. Victory Capital Management Inc. owned about 0.35% of IBEX worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in IBEX in the 2nd quarter worth $38,000. Ritholtz Wealth Management purchased a new stake in shares of IBEX during the third quarter worth about $371,000. Quadrature Capital Ltd bought a new stake in IBEX during the 1st quarter valued at approximately $349,000. Bank of New York Mellon Corp lifted its holdings in IBEX by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $447,000 after purchasing an additional 3,759 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in IBEX by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after purchasing an additional 1,874 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IBEX shares. Robert W. Baird lifted their price objective on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

Insider Activity

In related news, Director Shuja Keen sold 15,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $19.95, for a total transaction of $299,250.00. Following the sale, the director now owns 146,110 shares in the company, valued at approximately $2,914,894.50. This represents a 9.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00. Following the transaction, the director now directly owns 1,864,739 shares of the company’s stock, valued at $37,089,658.71. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 323,230 shares of company stock worth $6,420,553. 6.72% of the stock is currently owned by corporate insiders.

IBEX Price Performance

NASDAQ:IBEX opened at $20.80 on Wednesday. The company has a market cap of $348.61 million, a price-to-earnings ratio of 11.01 and a beta of 0.76. IBEX Limited has a 1 year low of $13.00 and a 1 year high of $21.63. The stock’s 50 day simple moving average is $19.35 and its two-hundred day simple moving average is $17.40.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%. The company had revenue of $124.53 million for the quarter.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.