IBEX (NASDAQ:IBEX) Reaches New 1-Year High – Still a Buy?

IBEX Limited (NASDAQ:IBEX) hit a new 52-week high on Wednesday . The stock traded as high as $42.26 and last traded at $42.1150, with a volume of 3348 shares traded. The stock had previously closed at $40.55.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IBEX shares. Robert W. Baird upped their target price on IBEX from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. Wall Street Zen downgraded IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Finally, Weiss Ratings raised shares of IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.00.

IBEX Stock Up 2.2%

The business’s 50-day moving average price is $36.99 and its 200-day moving average price is $32.38. The firm has a market capitalization of $564.39 million, a PE ratio of 13.50 and a beta of 0.72.

IBEX (NASDAQ:IBEX) last released its quarterly earnings data on Friday, September 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%.The firm had revenue of $164.27 million during the quarter, compared to analysts’ expectations of $160.02 million.

Insiders Place Their Bets

In other IBEX news, insider Paul Inson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $40.07, for a total value of $100,175.00. Following the completion of the sale, the insider owned 27,224 shares in the company, valued at approximately $1,090,865.68. This trade represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total transaction of $221,432.20. Following the completion of the sale, the director directly owned 2,813 shares in the company, valued at $112,801.30. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,465 shares of company stock valued at $3,657,191 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of IBEX

Large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in IBEX by 159.1% in the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock worth $101,000 after purchasing an additional 1,618 shares during the period. Sargent Investment Group LLC bought a new stake in shares of IBEX in the 4th quarter valued at $249,000. Evolve Private Wealth LLC raised its position in shares of IBEX by 5.7% during the first quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company’s stock worth $276,000 after purchasing an additional 555 shares during the period. Valued Retirements Inc. acquired a new stake in IBEX during the 4th quarter worth approximately $289,000. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in IBEX by 33.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock valued at $321,000 after acquiring an additional 2,625 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

IBEX Company Profile

IBEX Limited (NASDAQ: IBEX) is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company’s services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.