Strs Ohio Buys New Stake in IBEX Limited $IBEX

Key Points

• Strs Ohio acquired 19,500 shares of IBEX Limited, valuing their investment at around $475,000 and holding approximately 0.15% of the company.
• Bank of America Corp DE significantly increased its stake by 206.9% in the 4th quarter, now owning 39,787 shares valued at $855,000.
• Wall Street analysts, including Royal Bank of Canada, have raised their target price for IBEX shares from $31.00 to $39.00, maintaining a "sector perform" rating.

Strs Ohio acquired a new stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,500 shares of the company's stock, valued at approximately $475,000. Strs Ohio owned about 0.15% of IBEX as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE increased its stake in IBEX by 206.9% during the 4th quarter. Bank of America Corp DE now owns 39,787 shares of the company's stock worth $855,000 after buying an additional 26,822 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of IBEX during the fourth quarter worth $46,000. Man Group plc purchased a new position in shares of IBEX during the fourth quarter worth $777,000. State of Wyoming purchased a new position in shares of IBEX during the fourth quarter worth $119,000. Finally, Two Sigma Investments LP raised its stake in shares of IBEX by 39.1% in the fourth quarter. Two Sigma Investments LP now owns 115,815 shares of the company's stock valued at $2,489,000 after acquiring an additional 32,525 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

Insider Buying and Selling at IBEX

In other IBEX news, insider Paul Joseph Inson sold 10,000 shares of IBEX stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the insider directly owned 7,352 shares of the company's stock, valued at approximately $220,560. The trade was a 57.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Al Trofimuk-O'connor sold 844 shares of IBEX stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $38.50, for a total transaction of $32,494.00. Following the completion of the sale, the insider directly owned 11,727 shares of the company's stock, valued at $451,489.50. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,322 shares of company stock worth $3,025,482. 6.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada increased their target price on IBEX from $31.00 to $39.00 and gave the company a "sector perform" rating in a report on Friday, September 12th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $34.50.

IBEX Price Performance

Shares of IBEX stock traded up $1.02 during midday trading on Monday, reaching $41.96. 247,652 shares of the company traded hands, compared to its average volume of 227,178. The firm's 50 day simple moving average is $30.69 and its two-hundred day simple moving average is $28.07. IBEX Limited has a 1-year low of $17.53 and a 1-year high of $42.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market cap of $558.49 million, a PE ratio of 16.64 and a beta of 0.77.

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.