IBEX (NASDAQ:IBEX) Hits New 52-Week High – Still a Buy?

IBEX Limited (NASDAQ:IBEX) shares reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $47.32 and last traded at $45.8150, with a volume of 80,411 shares trading hands. The stock had previously closed at $45.65.

Analysts Set New Price Targets

Several research firms recently commented on IBEX. Wall Street Zen lowered shares of IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Robert W. Baird lifted 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. Finally, Weiss Ratings upgraded shares of 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.00.

IBEX Stock Up 0.7%

The company has a market cap of $610.88 million, a PE ratio of 14.70 and a beta of 0.69. The business has a 50-day simple moving average of $40.53 and a 200-day simple moving average of $34.63.

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

Insider Activity

In related news, CEO Robert Dechant sold 25,000 shares of IBEX stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $39.99, for a total value of $999,750.00. Following the sale, the chief executive officer owned 262,011 shares of the company’s stock, valued at approximately $10,477,819.89. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $40.10, for a total transaction of $221,432.20. Following the completion of the sale, the director directly owned 2,813 shares of the company’s stock, valued at approximately $112,801.30. The trade was a 66.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 97,465 shares of company stock worth $3,882,291. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On IBEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBEX. Tieton Capital Management LLC purchased a new position in IBEX during the second quarter valued at $8,353,000. Globeflex Capital L P purchased a new stake in shares of IBEX during the second quarter worth about $3,112,000. Y Intercept Hong Kong Ltd increased its stake in shares of IBEX by 121.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 95,665 shares of the company’s stock worth $2,566,000 after purchasing an additional 52,526 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of IBEX by 55.2% during the first quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock worth $2,391,000 after purchasing an additional 31,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of IBEX by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after purchasing an additional 24,942 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

About IBEX

IBEX Limited is a provider of business process outsourcing and customer experience solutions. The company helps brands manage customer interactions across voice, chat, email, social media and other digital channels, combining contact-center operations with technology, analytics and automation.

Its services include customer care, technical support, sales, revenue generation, back-office processing and trust and safety programs. IBEX also offers digital transformation and artificial intelligence-enabled tools intended to improve customer engagement, agent productivity and operational performance.

IBEX serves clients in industries such as communications, health care, retail, logistics, financial services and technology.