IBEX (NASDAQ:IBEX – Get Free Report) had its target price lifted by Royal Bank Of Canada from $40.00 to $45.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential downside of 12.06% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded IBEX from a “buy” rating to a “strong-buy” rating in a report on Saturday. Robert W. Baird raised their price target on shares of IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. Finally, Weiss Ratings raised IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.50.
Get Our Latest Stock Analysis on IBEX
IBEX Trading Up 1.8%
NASDAQ:IBEX traded up $0.89 during trading hours on Tuesday, hitting $51.17. 52,794 shares of the company were exchanged, compared to its average volume of 123,051. The stock has a market capitalization of $682.61 million, a price-to-earnings ratio of 15.51 and a beta of 0.74. IBEX has a one year low of $25.94 and a one year high of $51.40. The company has a fifty day simple moving average of $43.25 and a 200 day simple moving average of $34.57.
IBEX (NASDAQ:IBEX – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. IBEX had a net margin of 7.19% and a return on equity of 28.96%. The business had revenue of $175.23 million for the quarter, compared to analysts’ expectations of $169.31 million.
Insider Activity at IBEX
In related news, insider Christina O’Connor sold 2,376 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $39.34, for a total transaction of $93,471.84. Following the sale, the insider owned 26,855 shares of the company’s stock, valued at approximately $1,056,475.70. This represents a 8.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total transaction of $221,432.20. Following the transaction, the director directly owned 2,813 shares of the company’s stock, valued at approximately $112,801.30. This represents a 66.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 97,465 shares of company stock worth $3,882,291 in the last 90 days. 3.28% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its holdings in IBEX by 3.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,358 shares of the company’s stock valued at $439,000 after buying an additional 495 shares during the last quarter. Bullock Wealth Management Group purchased a new stake in IBEX during the 3rd quarter valued at $36,000. Allspring Global Investments Holdings LLC grew its holdings in IBEX by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,660 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,125 shares during the last quarter. Signaturefd LLC grew its holdings in IBEX by 272.4% in the 3rd quarter. Signaturefd LLC now owns 1,784 shares of the company’s stock worth $77,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of IBEX in the third quarter valued at about $85,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.
About IBEX
IBEX Limited (NASDAQ: IBEX) is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services.
The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.
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