IBEX (NASDAQ:IBEX) Stock Gets Price Target Increase from Robert W. Baird

IBEX (NASDAQ:IBEX) had its price target upped by equities researchers at Robert W. Baird from $40.00 to $44.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 1.43% from the stock’s current price.

IBEX has been the subject of a number of other research reports. Wall Street Zen cut shares of IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Weiss Ratings upgraded IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.00.

IBEX Price Performance

IBEX stock opened at $43.38 on Monday. The firm has a market capitalization of $576.09 million, a price-to-earnings ratio of 13.86 and a beta of 0.72. The company’s 50 day simple moving average is $37.84 and its 200 day simple moving average is $32.87. IBEX has a fifty-two week low of $25.94 and a fifty-two week high of $45.28.

IBEX (NASDAQ:IBEX) last issued its earnings results on Friday, September 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $164.27 million during the quarter, compared to the consensus estimate of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Insider Transactions at IBEX

In related news, CEO Robert Dechant sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00. Following the sale, the chief executive officer directly owned 262,011 shares in the company, valued at $10,477,819.89. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David Afdahl sold 17,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $37.09, for a total transaction of $649,075.00. Following the completion of the sale, the chief operating officer directly owned 140,006 shares in the company, valued at $5,192,822.54. This represents a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 97,465 shares of company stock valued at $3,882,291. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IBEX

A number of large investors have recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of IBEX by 33.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock valued at $321,000 after purchasing an additional 2,625 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of IBEX by 6.4% during the second quarter. Squarepoint Ops LLC now owns 84,982 shares of the company’s stock worth $2,581,000 after buying an additional 5,127 shares during the period. Globeflex Capital L P bought a new position in shares of IBEX during the second quarter worth about $3,112,000. Tieton Capital Management LLC bought a new position in shares of IBEX during the second quarter worth about $8,353,000. Finally, Lazard Asset Management LLC raised its position in IBEX by 55.2% in the 1st quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock valued at $2,391,000 after buying an additional 31,697 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

About IBEX

IBEX Limited (NASDAQ: IBEX) is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company’s services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.