IBEX (NASDAQ:IBEX) Reaches New 12-Month High – Should You Buy?

IBEX Limited (NASDAQ:IBEX – Get Free Report) shares reached a new 52-week high on Monday. The stock traded as high as $48.17 and last traded at $47.71, with a volume of 1,782 shares trading hands. The stock had previously closed at $47.23.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Robert W. Baird increased their price objective on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. Finally, Wall Street Zen lowered IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, IBEX has an average rating of “Hold” and a consensus price target of $42.00.

Check Out Our Latest Report on IBEX

IBEX Trading Up 0.6%

The firm has a market capitalization of $630.80 million, a P/E ratio of 15.11 and a beta of 0.69. The business has a 50 day moving average of $41.22 and a 200-day moving average of $35.04.

IBEX (NASDAQ:IBEX – Get Free Report) last released its quarterly earnings results on Friday, September 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $164.27 million during the quarter, compared to analysts’ expectations of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Insiders Place Their Bets

In related news, insider Julie Casteel sold 17,474 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.41, for a total value of $706,124.34. Following the completion of the transaction, the insider directly owned 100,814 shares of the company’s stock, valued at approximately $4,073,893.74. This represents a 14.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Dechant sold 5,000 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $45.02, for a total value of $225,100.00. Following the transaction, the chief executive officer owned 257,011 shares of the company’s stock, valued at approximately $11,570,635.22. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,465 shares of company stock worth $3,882,291 in the last ninety days. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IBEX. Dimensional Fund Advisors LP raised its position in IBEX by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock valued at $9,607,000 after buying an additional 24,942 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in IBEX by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock worth $8,999,000 after acquiring an additional 6,932 shares during the last quarter. Tieton Capital Management LLC acquired a new position in IBEX during the 2nd quarter worth approximately $8,353,000. Hillsdale Investment Management Inc. boosted its position in IBEX by 2.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in IBEX during the 2nd quarter worth approximately $3,112,000. 81.24% of the stock is owned by institutional investors and hedge funds.

IBEX Company Profile

(Get Free Report)

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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