IBEX (NASDAQ:IBEX) Price Target Raised to $24.00

IBEX (NASDAQ:IBEX) had its target price lifted by Royal Bank of Canada from $21.00 to $24.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Separately, Robert W. Baird boosted their price objective on IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

IBEX Price Performance

IBEX stock opened at $24.49 on Friday. The stock has a market capitalization of $410.45 million, a price-to-earnings ratio of 11.50 and a beta of 0.78. The business has a fifty day moving average price of $21.29 and a 200 day moving average price of $19.37. IBEX has a fifty-two week low of $13.00 and a fifty-two week high of $25.03.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. IBEX had a net margin of 7.08% and a return on equity of 23.13%.

Insider Activity

In related news, Director Mohammedulla Khaishgi sold 10,000 shares of IBEX stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $22.55, for a total transaction of $225,500.00. Following the transaction, the director now owns 70,293 shares of the company’s stock, valued at $1,585,107.15. This trade represents a 12.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 82,572 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $20.20, for a total transaction of $1,667,954.40. Following the transaction, the insider now owns 1,421,547 shares of the company’s stock, valued at approximately $28,715,249.40. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,008 shares of company stock valued at $6,154,153 in the last 90 days. 6.72% of the stock is owned by company insiders.

Institutional Trading of IBEX

Several hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in shares of IBEX by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 61,457 shares of the company’s stock worth $1,321,000 after acquiring an additional 2,800 shares in the last quarter. Denali Advisors LLC bought a new stake in IBEX during the 4th quarter worth approximately $558,000. New York State Common Retirement Fund raised its holdings in IBEX by 146.5% during the 4th quarter. New York State Common Retirement Fund now owns 11,777 shares of the company’s stock worth $253,000 after buying an additional 7,000 shares during the period. Sanctuary Advisors LLC bought a new position in IBEX in the fourth quarter valued at approximately $1,411,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of IBEX by 11.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 34,330 shares of the company’s stock valued at $738,000 after buying an additional 3,588 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.