IBEX (NASDAQ:IBEX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

IBEX (NASDAQ:IBEX) had its target price lifted by research analysts at Royal Bank Of Canada from $31.00 to $39.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 6.20% from the stock’s current price.

IBEX Price Performance

NASDAQ:IBEX opened at $41.58 on Friday. The business’s 50-day moving average price is $29.68 and its 200 day moving average price is $27.52. The firm has a market cap of $556.01 million, a P/E ratio of 17.40 and a beta of 0.77. IBEX has a 52-week low of $17.53 and a 52-week high of $42.99. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In related news, insider Paul Joseph Inson sold 10,000 shares of IBEX stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider owned 7,352 shares of the company’s stock, valued at approximately $220,560. This trade represents a 57.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Thomas Dechant sold 4,376 shares of IBEX stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $30.00, for a total value of $131,280.00. Following the completion of the transaction, the chief executive officer directly owned 193,633 shares in the company, valued at $5,808,990. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,000 shares of company stock valued at $590,050. 6.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IBEX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of IBEX by 4.6% during the 4th quarter. Wellington Management Group LLP now owns 545,175 shares of the company’s stock valued at $11,716,000 after buying an additional 23,800 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of IBEX by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 510,402 shares of the company’s stock valued at $10,969,000 after buying an additional 4,777 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of IBEX by 8.0% during the 2nd quarter. Acadian Asset Management LLC now owns 444,377 shares of the company’s stock valued at $12,924,000 after buying an additional 32,911 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of IBEX by 0.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 389,234 shares of the company’s stock valued at $11,327,000 after buying an additional 1,844 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of IBEX by 18.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 260,500 shares of the company’s stock valued at $7,581,000 after buying an additional 40,800 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.