IBEX (NASDAQ:IBEX) Hits New 12-Month High – What’s Next?

Shares of IBEX Limited (NASDAQ:IBEX) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $45.30 and last traded at $45.26, with a volume of 20,430 shares. The stock had previously closed at $44.52.

Analyst Ratings Changes

IBEX has been the subject of several research reports. Robert W. Baird raised their target price on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, September 28th. Weiss Ratings raised IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of IBEX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.00.

IBEX Price Performance

The business has a 50 day moving average price of $39.66 and a 200 day moving average price of $33.97. The firm has a market capitalization of $605.37 million, a P/E ratio of 14.55 and a beta of 0.69.

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

Insider Activity at IBEX

In other news, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.10, for a total value of $221,432.20. Following the transaction, the director directly owned 2,813 shares of the company’s stock, valued at $112,801.30. The trade was a 66.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Casteel sold 17,474 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $40.41, for a total transaction of $706,124.34. Following the completion of the sale, the insider owned 100,814 shares of the company’s stock, valued at $4,073,893.74. The trade was a 14.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,465 shares of company stock valued at $3,882,291. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On IBEX

Several large investors have recently made changes to their positions in IBEX. Bullock Wealth Management Group bought a new stake in shares of IBEX in the third quarter worth $36,000. Pinnacle Wealth Management Advisory Group LLC grew its position in 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 grew its position in IBEX by 6.4% in the second quarter. Squarepoint Ops LLC now owns 84,982 shares of the company’s stock valued at $2,581,000 after purchasing an additional 5,127 shares in the last quarter. Globeflex Capital L P bought a new position in IBEX in the second quarter valued at $3,112,000. Finally, Tieton Capital Management LLC acquired a new stake in IBEX in the 2nd quarter valued at $8,353,000. Institutional investors own 81.24% of the company’s stock.

IBEX Company Profile

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.