IBEX (NASDAQ:IBEX) Stock Price Target Raised at Robert W. Baird

IBEX (NASDAQ:IBEX) had its target price raised by Robert W. Baird from $40.00 to $44.00 in a research report sent to investors on Monday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts also recently issued reports on IBEX. Wall Street Zen downgraded IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Weiss Ratings upgraded shares of IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.00.

IBEX Stock Down 0.4%

IBEX opened at $44.33 on Monday. The firm has a market cap of $588.70 million, a PE ratio of 14.16 and a beta of 0.72. The business has a fifty day simple moving average of $37.67 and a 200-day simple moving average of $32.77. IBEX has a fifty-two week low of $25.94 and a fifty-two week high of $45.28.

IBEX (NASDAQ:IBEX) last announced its earnings results on Friday, September 11th. The company reported $0.85 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 business had revenue of $164.27 million during the quarter, compared to the consensus estimate of $160.02 million.

Insider Transactions at IBEX

In other news, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total transaction of $221,432.20. Following the transaction, the director directly owned 2,813 shares in the company, valued at $112,801.30. The trade was a 66.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christina O’Connor sold 7,500 shares of the business’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 transaction, the insider owned 29,231 shares in the company, valued at approximately $1,178,009.30. This represents a 20.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 92,465 shares of company stock worth $3,657,191. 3.40% of the stock is owned by company insiders.

Institutional Trading of IBEX

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in IBEX by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after purchasing an additional 24,942 shares during the last quarter. Tieton Capital Management LLC purchased a new stake in shares of IBEX during the 2nd quarter worth about $8,353,000. Hillsdale Investment Management Inc. lifted its holdings in shares of IBEX by 2.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock valued at $7,086,000 after buying an additional 7,300 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of IBEX during the 2nd quarter valued at about $3,112,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of IBEX by 25.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 68,825 shares of the company’s stock valued at $2,591,000 after buying an additional 13,807 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

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.