IBEX (NASDAQ:IBEX) Reaches New 52-Week High – Here’s Why

IBEX Limited (NASDAQ:IBEX) hit 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 changing hands. The stock had previously closed at $45.65.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Finally, Robert W. Baird raised their price objective on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. One 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 company currently has a consensus rating of “Hold” and a consensus target price of $42.00.

IBEX Trading Up 0.1%

The business’s 50-day moving average price is $40.17 and its 200-day moving average price is $34.37. The stock has a market cap of $607.00 million, a PE ratio of 14.52 and a beta of 0.69.

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

Insider Buying and Selling at IBEX

In related news, insider Julie K. 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 transaction, the insider directly owned 100,814 shares in the company, valued at $4,073,893.74. The trade was a 14.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christina O’Connor sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $40.30, for a total value of $302,250.00. Following the transaction, the insider owned 29,231 shares in the company, valued at approximately $1,178,009.30. This trade represents a 20.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 97,465 shares of company stock valued at $3,882,291. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On IBEX

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings 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 valued at $2,391,000 after acquiring an additional 31,697 shares in the last quarter. Globeflex Capital L P acquired a new stake in IBEX in the 2nd quarter worth approximately $3,112,000. Tieton Capital Management LLC acquired a new stake in IBEX in the 2nd quarter worth approximately $8,353,000. Y Intercept Hong Kong Ltd grew its position in IBEX by 121.8% during the 1st 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 during the last quarter. Finally, Watershed Asset Management L.L.C. acquired a new position in IBEX during the 1st quarter valued at approximately $453,000. Institutional investors and hedge funds 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.