IBEX (NASDAQ:IBEX) Price Target Raised to $45.00

IBEX (NASDAQ:IBEX) had its target price upped by Royal Bank Of Canada from $40.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also recently issued reports on IBEX. Wall Street Zen raised IBEX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Robert W. Baird raised their target price on IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. One investment 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, the stock presently has an average rating of “Hold” and an average target price of $44.50.

IBEX Stock Down 0.8%

NASDAQ IBEX opened at $54.87 on Tuesday. IBEX has a 52 week low of $25.94 and a 52 week high of $55.77. The firm has a 50 day moving average of $44.18 and a two-hundred day moving average of $34.80. The stock has a market capitalization of $731.42 million, a PE ratio of 16.63 and a beta of 0.74.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $175.23 million for 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%.

Insider Buying and Selling

In other news, COO David Afdahl sold 17,500 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $37.09, for a total value of $649,075.00. Following the completion of the sale, the chief operating officer directly owned 140,006 shares of the company’s stock, valued at approximately $5,192,822.54. The trade was a 11.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Inson sold 6,994 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $50.73, for a total value of $354,805.62. Following the completion of the sale, the insider directly owned 26,550 shares of the company’s stock, valued at $1,346,881.50. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 128,686 shares of company stock valued at $5,462,196 over the last ninety days. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in shares of IBEX by 15.3% in the third quarter. Boston Partners now owns 397,353 shares of the company’s stock valued at $17,189,000 after acquiring an additional 52,638 shares during the period. Dimensional Fund Advisors LP increased its stake in IBEX by 7.5% in the first 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 period. Tieton Capital Management LLC acquired a new position in IBEX in the second quarter valued at $8,353,000. Hillsdale Investment Management Inc. increased its stake in IBEX by 2.8% in the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock valued at $7,086,000 after purchasing an additional 7,300 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in shares of IBEX by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock valued at $8,999,000 after buying an additional 6,932 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

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.