American Century Companies Inc. Sells 134,448 Shares of IBEX Limited $IBEX

Key Points

• American Century Companies Inc. has reduced its stake in IBEX Limited by 15.7%, now holding 722,094 shares after selling 134,448 shares worth approximately $17.6 million.
• Insiders, including CEO Robert Thomas Dechant, have also sold shares, with a total of 73,910 shares traded in the last quarter, valued at over $2.17 million.
• Wall Street analysts have downgraded IBEX to a consensus "Hold" rating, with a target price of $27.00 following mixed reviews on its stock performance.

American Century Companies Inc. cut its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 722,094 shares of the company's stock after selling 134,448 shares during the quarter. American Century Companies Inc. owned about 5.47% of IBEX worth $17,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE purchased a new position in IBEX in the 1st quarter worth about $41,000. Russell Investments Group Ltd. grew its stake in IBEX by 8,785.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company's stock valued at $40,000 after acquiring an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in IBEX by 267.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock valued at $41,000 after acquiring an additional 1,401 shares in the last quarter. Deutsche Bank AG purchased a new position in IBEX during the 4th quarter valued at about $46,000. Finally, CWM LLC grew its stake in IBEX by 392.7% during the 1st quarter. CWM LLC now owns 2,853 shares of the company's stock valued at $69,000 after acquiring an additional 2,274 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

IBEX Stock Performance

Shares of IBEX stock traded up $0.11 during trading hours on Friday, reaching $29.64. 66,444 shares of the company's stock were exchanged, compared to its average volume of 161,111. IBEX Limited has a fifty-two week low of $16.35 and a fifty-two week high of $32.08. The stock has a market capitalization of $396.35 million, a P/E ratio of 12.94 and a beta of 0.77. The business has a fifty day moving average price of $29.34 and a 200-day moving average price of $27.19. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several research firms have weighed in on IBEX. Robert W. Baird cut IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 target price on the stock. in a research note on Monday, May 12th. Baird R W cut IBEX from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $27.00.

Insider Buying and Selling at IBEX

In other IBEX news, insider Paul Joseph Inson sold 10,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider directly owned 7,352 shares in the company, valued at $220,560. This represents a 57.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mohammedulla Khaishgi sold 5,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $28.01, for a total value of $140,050.00. Following the sale, the director owned 2,312 shares in the company, valued at $64,759.12. The trade was a 68.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,220 shares of company stock worth $2,069,150 over the last three months. Company insiders own 6.72% of the company's stock.

IBEX 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.