Wall Street Zen Upgrades IBEX (NASDAQ:IBEX) to Strong-Buy

IBEX (NASDAQ:IBEX) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

IBEX has been the topic of several other research reports. Robert W. Baird raised 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. Weiss Ratings upgraded shares of IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.00.

IBEX Price Performance

IBEX opened at $49.52 on Friday. The firm has a market capitalization of $660.79 million, a P/E ratio of 15.01 and a beta of 0.74. The stock’s 50 day moving average price is $43.00 and its two-hundred day moving average price is $34.50. IBEX has a 12-month low of $25.94 and a 12-month high of $49.89.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. IBEX had a return on equity of 29.10% and a net margin of 7.34%. The company had revenue of $175.23 million for the quarter, compared to the consensus estimate of $169.31 million.

Insider Buying and Selling

In other news, insider Christina O’Connor sold 7,500 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.30, for a total value of $302,250.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Dechant sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $39.99, for a total transaction of $999,750.00. Following the transaction, the chief executive officer directly owned 262,011 shares of the company’s stock, valued at $10,477,819.89. The trade was a 8.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 97,465 shares of company stock worth $3,882,291. Insiders own 3.40% of the company’s stock.

Institutional Trading of IBEX

A number of large investors have recently bought and sold shares of IBEX. Bullock Wealth Management Group bought a new stake in shares of IBEX during the third quarter worth $36,000. Signaturefd LLC grew its holdings in IBEX by 272.4% during the 3rd quarter. Signaturefd LLC now owns 1,784 shares of the company’s stock worth $77,000 after acquiring an additional 1,305 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in IBEX in the 3rd quarter valued at about $85,000. D Orazio & Associates Inc. acquired a new stake in IBEX in the 3rd quarter valued at about $213,000. Finally, Vise Technologies Inc. acquired a new stake in IBEX in the 3rd quarter valued at about $223,000. 81.24% of the stock is currently owned by institutional investors.

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.