IBEX (NASDAQ:IBEX) Price Target Raised to $44.00

IBEX (NASDAQ:IBEX) had its price objective raised by Robert W. Baird from $40.00 to $44.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently commented on the company. Weiss Ratings upgraded IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. Wall Street Zen cut shares of IBEX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. 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 stock currently has an average rating of “Hold” and a consensus target price of $42.00.

IBEX Stock Down 0.3%

NASDAQ IBEX opened at $43.26 on Monday. The business has a 50 day moving average price of $38.05 and a two-hundred day moving average price of $32.97. The stock has a market cap of $574.49 million, a PE ratio of 13.82 and a beta of 0.72. IBEX has a fifty-two week low of $25.94 and a fifty-two week high of $45.28.

IBEX (NASDAQ:IBEX) last released its earnings results on Friday, September 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company 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 Buying and Selling

In other IBEX news, insider Paul Inson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $40.07, for a total value of $100,175.00. Following the transaction, the insider owned 27,224 shares in the company, valued at approximately $1,090,865.68. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mingzhe Zhuang sold 5,522 shares of IBEX stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total value of $221,432.20. Following 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. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 97,465 shares of company stock valued at $3,882,291. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC raised its holdings in IBEX by 159.1% during the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock valued at $101,000 after buying an additional 1,618 shares in the last quarter. Sargent Investment Group LLC acquired a new position in shares of IBEX during the fourth quarter valued at about $249,000. Evolve Private Wealth LLC grew its holdings in shares of IBEX by 5.7% during the 1st quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company’s stock worth $276,000 after purchasing an additional 555 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in IBEX by 33.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock valued at $321,000 after buying an additional 2,625 shares during the period. Finally, Horizon Investment Services LLC boosted its holdings in IBEX by 70.4% during the fourth quarter. Horizon Investment Services LLC now owns 10,745 shares of the company’s stock valued at $410,000 after purchasing an additional 4,440 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

IBEX Company Profile

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.