IBEX (NASDAQ:IBEX) Stock: Insider Robert Thomas Dechant Sells 5,000 Shares

IBEX Limited (NASDAQ:IBEX) CEO Robert Dechant sold 5,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $50.01, for a total transaction of $250,050.00. Following the sale, the chief executive officer directly owned 297,448 shares of the company’s stock, valued at approximately $14,875,374.48. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Thomas Dechant also recently made the following trade(s):

• On Friday, September 25th, Robert Dechant sold 5,000 shares of IBEX stock. The shares were sold at an average price of $45.02, for a total transaction of $225,100.00.
• On Tuesday, September 15th, Robert Dechant sold 25,000 shares of IBEX stock. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00.

IBEX Stock Performance

IBEX stock opened at $55.32 on Thursday. IBEX Limited has a one year low of $25.94 and a one year high of $55.77. The company’s fifty day moving average price is $43.86 and its 200-day moving average price is $34.72. The company has a market capitalization of $737.64 million, a PE ratio of 16.76 and a beta of 0.74.

IBEX (NASDAQ:IBEX) last issued its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The firm had revenue of $175.23 million during the quarter, compared to analyst estimates of $169.31 million. IBEX had a net margin of 7.34% and a return on equity of 29.10%.

Analysts Set New Price Targets

Several research firms have commented on IBEX. Robert W. Baird increased their price objective on shares of IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 28th. Wall Street Zen raised IBEX from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings raised IBEX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Finally, Royal Bank Of Canada boosted their target price on IBEX from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.50.

Top IBEX Stories

Investors following IBEX have been watching these stories:

• Positive Sentiment: Recent earnings beat: The latest reported quarter exceeded analyst estimates for both earnings and revenue, providing a positive fundamental backdrop for the stock.
• Neutral Sentiment: Investor conference: CEO Bob Dechant and CFO Taylor Greenwald are scheduled to present at the RBC Global TIMT Conference on November 17. The appearance may give investors more insight into the business, but no new guidance was announced. Conference announcement
• Negative Sentiment: RBC’s target remains below the share price: Royal Bank of Canada raised its target to $45 from $40 but kept a “sector perform” rating. The revised target is below the recently reported $55.32 share price, signaling limited upside in the analyst’s view.

Institutional Investors Weigh In On IBEX

Several large investors have recently added to or reduced their stakes in the stock. Boston Partners increased its stake in IBEX by 15.3% during the third quarter. Boston Partners now owns 397,353 shares of the company’s stock worth $17,189,000 after acquiring an additional 52,638 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 24,942 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of IBEX by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock valued at $8,999,000 after purchasing an additional 6,932 shares during the last quarter. Tieton Capital Management LLC bought a new stake in shares of IBEX in the 2nd quarter valued at approximately $8,353,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of IBEX by 2.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after purchasing an additional 7,300 shares during the period. 81.24% of the stock is owned by institutional investors.

IBEX Company Profile

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.