IBEX (NASDAQ:IBEX) Stock: Insider Bruce Neil Dawson Sells 4,050 Shares

IBEX Limited (NASDAQ:IBEX) insider Bruce Dawson sold 4,050 shares of IBEX stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $50.65, for a total value of $205,132.50. Following the transaction, the insider owned 67,873 shares in the company, valued at approximately $3,437,767.45. This represents a 5.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

IBEX Trading Up 5.9%

Shares of IBEX stock opened at $55.32 on Thursday. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $55.77. The company’s 50-day moving average price is $43.86 and its 200-day moving average price is $34.72. The stock has a market cap of $737.64 million, a price-to-earnings ratio of 16.76 and a beta of 0.74.

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

Institutional Trading of IBEX

A number of hedge funds and other institutional investors have recently modified their holdings of IBEX. Boston Partners raised its holdings in IBEX by 15.3% in the 3rd quarter. Boston Partners now owns 397,353 shares of the company’s stock valued at $17,189,000 after buying an additional 52,638 shares during the period. Dimensional Fund Advisors LP boosted its stake in IBEX by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after buying an additional 24,942 shares during the period. Tieton Capital Management LLC purchased a new position in IBEX during the second quarter worth about $8,353,000. Hillsdale Investment Management Inc. boosted its stake in IBEX by 2.8% during the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after buying an additional 7,300 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of IBEX by 3.4% during the third quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock valued at $8,999,000 after acquiring an additional 6,932 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBEX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of IBEX from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Royal Bank Of Canada upped their price objective on IBEX from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Robert W. Baird increased their price objective on IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, IBEX currently has a consensus rating of “Hold” and a consensus price target of $44.50.

Recent IBEX Headlines

Here are a few of the latest headlines about IBEX:

• Positive Sentiment: Recent earnings beat: The latest reported quarter exceeded analyst estimates for both earnings and revenue, providing a positive fundamental backdrop for the stock.
• Neutral Sentiment: Investor conference: CEO Bob Dechant and CFO Taylor Greenwald are scheduled to present at the RBC Global TIMT Conference on November 17. The appearance may give investors more insight into the business, but no new guidance was announced. Conference announcement
• Negative Sentiment: RBC’s target remains below the share price: Royal Bank of Canada raised its target to $45 from $40 but kept a “sector perform” rating. The revised target is below the recently reported $55.32 share price, signaling limited upside in the analyst’s view.

IBEX Company Profile

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.