IBEX (NASDAQ:IBEX) PT Raised to $20.00

IBEX (NASDAQ:IBEX) had its target price raised by research analysts at Royal Bank of Canada from $18.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 2.30% from the company’s current price.

IBEX Stock Performance

NASDAQ:IBEX opened at $19.55 on Friday. The firm has a market capitalization of $336.53 million, a price-to-earnings ratio of 12.78 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.42 and a quick ratio of 2.42. The company’s 50-day moving average is $16.71 and its two-hundred day moving average is $15.61. IBEX has a 1-year low of $11.45 and a 1-year high of $20.02.

Institutional Investors Weigh In On IBEX

Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of IBEX during the 2nd quarter worth about $38,000. Quadrature Capital Ltd purchased a new position in IBEX during the 1st quarter worth $349,000. Bank of New York Mellon Corp lifted its position in IBEX by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock valued at $447,000 after purchasing an additional 3,759 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of IBEX by 6.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock valued at $528,000 after buying an additional 1,874 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in IBEX by 9.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 37,390 shares of the company’s stock valued at $577,000 after acquiring an additional 3,191 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

About IBEX

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.