Royal Bank of Canada Raises IBEX (NASDAQ:IBEX) Price Target to $24.00

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

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

IBEX Price Performance

NASDAQ IBEX opened at $24.49 on Friday. IBEX has a 1 year low of $13.00 and a 1 year high of $25.03. The company has a market cap of $410.45 million, a price-to-earnings ratio of 11.50 and a beta of 0.78. The stock’s fifty day moving average price is $21.21 and its 200 day moving average price is $19.30.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.51 EPS for the quarter, topping 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%.

Insider Activity at IBEX

In other news, insider Bruce Neil Dawson sold 13,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.00, for a total transaction of $324,000.00. Following the transaction, the insider now owns 5,607 shares in the company, valued at approximately $134,568. The trade was a 70.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $20.12, for a total value of $1,584,007.36. Following the completion of the sale, the insider now owns 1,641,011 shares of the company’s stock, valued at $33,017,141.32. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 352,525 shares of company stock worth $7,245,038 over the last quarter. 6.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in IBEX by 4.8% during the 4th quarter. Victory Capital Management Inc. now owns 61,457 shares of the company’s stock worth $1,321,000 after acquiring an additional 2,800 shares during the last quarter. Denali Advisors LLC acquired a new stake in IBEX during the 4th quarter worth $558,000. New York State Common Retirement Fund increased its stake in IBEX by 146.5% during the 4th quarter. New York State Common Retirement Fund now owns 11,777 shares of the company’s stock worth $253,000 after purchasing an additional 7,000 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in IBEX in the 4th quarter valued at $1,411,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of IBEX by 11.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 34,330 shares of the company’s stock worth $738,000 after buying an additional 3,588 shares in the last quarter. 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.