IBEX (NASDAQ:IBEX) Hits New 1-Year High – Still a Buy?

IBEX Limited (NASDAQ:IBEX) shares hit a new 52-week high during trading on Monday. The stock 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 topic of a number of recent research reports. Weiss Ratings raised IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Wall Street Zen lowered shares of IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, Robert W. Baird increased their price objective on shares of IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.00.

IBEX Price Performance

The company has a 50-day moving average price of $39.30 and a 200 day moving average price of $33.72. The firm has a market capitalization of $599.16 million, a PE ratio of 14.42 and a beta of 0.69.

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

Insider Buying and Selling at IBEX

In other news, insider Christina O’Connor sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.30, for a total transaction of $302,250.00. Following the sale, the insider directly owned 29,231 shares of the company’s stock, valued at $1,178,009.30. This represents a 20.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Casteel sold 17,474 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was 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 in the company, valued at $4,073,893.74. This represents a 14.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,465 shares of company stock worth $3,882,291 over the last three months. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in IBEX by 7.5% during 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 bought a new stake in shares of IBEX in the 2nd quarter valued at approximately $8,353,000. 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. Globeflex Capital L P purchased a new position in shares of IBEX in the 2nd quarter worth approximately $3,112,000. Finally, Squarepoint Ops LLC increased its position in shares of IBEX by 6.4% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.