IBEX (NASDAQ:IBEX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IBEX (NASDAQ:IBEX) from a buy rating to a strong-buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other analysts have also commented on the company. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Robert W. Baird upped their target price on shares of IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

IBEX Stock Performance

NASDAQ IBEX opened at $50.28 on Friday. The stock has a fifty day moving average of $43.25 and a 200-day moving average of $34.57. The stock has a market capitalization of $670.74 million, a P/E ratio of 15.24 and a beta of 0.74. IBEX has a 52 week low of $25.94 and a 52 week high of $51.01.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The company had revenue of $175.23 million during the quarter, compared to the consensus estimate of $169.31 million. IBEX had a return on equity of 28.96% and a net margin of 7.19%.

Insider Transactions at IBEX

In other IBEX news, CEO Robert Dechant sold 25,000 shares of IBEX stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00. Following the completion of the sale, the chief executive officer owned 262,011 shares of the company’s stock, valued at approximately $10,477,819.89. The trade was a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina O’Connor sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.30, for a total transaction of $302,250.00. Following the sale, the insider owned 29,231 shares of the company’s stock, valued at $1,178,009.30. The trade was a 20.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 97,465 shares of company stock valued at $3,882,291. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IBEX

A number of institutional investors have recently made changes to their positions in IBEX. Tieton Capital Management LLC acquired a new position in IBEX in the second quarter valued at about $8,353,000. Globeflex Capital L P acquired a new position in shares of IBEX during the 2nd quarter worth about $3,112,000. Lazard Asset Management LLC grew its position in shares of IBEX by 55.2% during the 1st quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock worth $2,391,000 after buying an additional 31,697 shares during the period. Dimensional Fund Advisors LP grew its position in shares of IBEX by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after buying an additional 24,942 shares during the period. Finally, Watershed Asset Management L.L.C. acquired a new stake in shares of IBEX in the 1st quarter valued at approximately $453,000. 81.24% of the stock is owned by institutional investors and hedge funds.

About IBEX

IBEX Limited (NASDAQ: IBEX) is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services.

The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.