Royal Bank of Canada Raises IBEX (NASDAQ:IBEX) Price Target to $20.00

IBEX (NASDAQ:IBEX) had its price target hoisted by Royal Bank of Canada from $18.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

IBEX Price Performance

Shares of IBEX stock opened at $19.94 on Friday. The company’s fifty day simple moving average is $16.79 and its two-hundred day simple moving average is $15.64. The firm has a market cap of $343.25 million, a PE ratio of 13.03 and a beta of 0.73. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.01. IBEX has a 12-month low of $13.00 and a 12-month high of $20.56.

Hedge Funds Weigh In On IBEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of IBEX by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after buying an additional 1,874 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of IBEX in the 2nd quarter worth $38,000. Dimensional Fund Advisors LP increased its position in shares of IBEX by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock valued at $3,228,000 after purchasing an additional 3,052 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of IBEX by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 55,207 shares of the company’s stock worth $893,000 after acquiring an additional 3,084 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of IBEX by 9.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 37,390 shares of the company’s stock worth $577,000 after buying an additional 3,191 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

About IBEX

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.