Royal Bank of Canada Issues Positive Forecast for IBEX (NASDAQ:IBEX) Stock Price

IBEX (NASDAQ:IBEX) had its price target hoisted by Royal Bank of Canada from $21.00 to $24.00 in a research note published on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

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

IBEX Stock Up 10.9 %

Shares of NASDAQ IBEX opened at $24.49 on Friday. The firm’s 50-day simple moving average is $21.21 and its 200 day simple moving average is $19.30. The stock has a market cap of $410.45 million, a P/E ratio of 11.50 and a beta of 0.78. IBEX has a fifty-two week low of $13.00 and a fifty-two week high of $25.03.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. IBEX had a return on equity of 23.13% and a net margin of 7.08%.

Insiders Place Their Bets

In other news, CEO Robert Thomas Dechant sold 2,621 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.00, for a total transaction of $65,525.00. Following the completion of the transaction, the chief executive officer now directly owns 221,012 shares of the company’s stock, valued at $5,525,300. This represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $20.12, for a total transaction of $1,584,007.36. Following the sale, the insider now directly owns 1,641,011 shares in the company, valued at approximately $33,017,141.32. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,525 shares of company stock worth $7,245,038 in the last 90 days. Company insiders own 6.72% of the company’s stock.

Institutional Trading of IBEX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in IBEX by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock worth $3,228,000 after purchasing an additional 3,052 shares in the last quarter. Ritholtz Wealth Management purchased a new position in IBEX during the third quarter valued at $371,000. Victory Capital Management Inc. lifted its stake in shares of IBEX by 6.2% during the 3rd quarter. Victory Capital Management Inc. now owns 58,657 shares of the company’s stock valued at $1,172,000 after buying an additional 3,450 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of IBEX by 359.2% during the third quarter. Meeder Asset Management Inc. now owns 10,781 shares of the company’s stock valued at $215,000 after buying an additional 8,433 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after purchasing an additional 1,623 shares during the last quarter. Hedge funds and other institutional investors 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.