IBEX (NASDAQ:IBEX) Price Target Raised to $24.00

IBEX (NASDAQ:IBEX) had its target price boosted by stock analysts at Royal Bank of Canada from $21.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential downside of 4.08% from the company’s previous close.

Separately, Robert W. Baird lifted their price objective on IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

IBEX Price Performance

Shares of IBEX stock traded up $2.93 on Friday, reaching $25.02. 383,559 shares of the stock were exchanged, compared to its average volume of 127,432. The stock has a market cap of $419.34 million, a PE ratio of 13.17 and a beta of 0.78. IBEX has a one year low of $13.00 and a one year high of $24.91. The stock has a 50 day moving average price of $21.21 and a 200 day moving average price of $19.30.

IBEX (NASDAQ:IBEX) last posted its earnings results on Thursday, February 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. IBEX had a return on equity of 22.54% and a net margin of 6.57%.

Insiders Place Their Bets

In other news, Director Mohammedulla Khaishgi sold 4,626 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $22.50, for a total transaction of $104,085.00. Following the completion of the sale, the director now owns 216,718 shares in the company, valued at approximately $4,876,155. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Thomas Dechant sold 1,792 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $22.50, for a total transaction of $40,320.00. Following the sale, the chief executive officer now owns 226,841 shares of the company’s stock, valued at approximately $5,103,922.50. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,404 shares of company stock valued at $6,630,013. Insiders own 6.72% of the company’s stock.

Institutional Trading of IBEX

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in IBEX by 314.5% during the 3rd quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after acquiring an additional 1,623 shares during the period. R Squared Ltd bought a new stake in IBEX in the fourth quarter valued at $48,000. Public Employees Retirement System of Ohio bought a new stake in IBEX during the 3rd quarter worth approximately $68,000. SG Americas Securities LLC bought a new position in shares of IBEX in the fourth quarter worth about $116,000. Finally, Meeder Asset Management Inc. increased its position in IBEX by 359.2% in the third quarter. Meeder Asset Management Inc. now owns 10,781 shares of the company’s stock worth $215,000 after purchasing an additional 8,433 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.