New York State Common Retirement Fund Raises Stock Holdings in IBEX Limited (NASDAQ:IBEX)

Key Points

• The New York State Common Retirement Fund increased its stock holdings in IBEX Limited by 112.9% to a total of 25,077 shares, valued at approximately $611,000.
• IBEX has recently seen several hedge funds modifying their stakes, including JPMorgan Chase & Co., which raised its holdings by 1,369.6% during the last quarter.
• Wall Street analysts have lowered their ratings on IBEX, with Baird R W changing its assessment from a "strong-buy" to a "hold" and setting a target price of $30.00 per share.

New York State Common Retirement Fund raised its stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 112.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 25,077 shares of the company's stock after purchasing an additional 13,300 shares during the period. New York State Common Retirement Fund owned 0.19% of IBEX worth $611,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of IBEX by 24.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,024 shares of the company's stock worth $108,000 after acquiring an additional 990 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of IBEX by 267.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock worth $41,000 after acquiring an additional 1,401 shares during the period. Barclays PLC boosted its stake in shares of IBEX by 6.8% in the fourth quarter. Barclays PLC now owns 22,046 shares of the company's stock worth $473,000 after acquiring an additional 1,410 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of IBEX by 8,785.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company's stock worth $40,000 after acquiring an additional 1,845 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of IBEX in the fourth quarter worth about $46,000. Institutional investors own 81.24% of the company's stock.

IBEX Price Performance

Shares of NASDAQ:IBEX traded up $0.21 during mid-day trading on Tuesday, reaching $30.23. The stock had a trading volume of 8,732 shares, compared to its average volume of 172,989. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $404.24 million, a P/E ratio of 13.20 and a beta of 0.77. IBEX Limited has a 1 year low of $15.17 and a 1 year high of $32.08. The business's 50 day moving average price is $29.29 and its 200 day moving average price is $26.19.

Insider Buying and Selling

In other news, CEO Robert Thomas Dechant sold 4,376 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $30.00, for a total value of $131,280.00. Following the sale, the chief executive officer directly owned 193,633 shares in the company, valued at approximately $5,808,990. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mohammedulla Khaishgi sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 2,312 shares in the company, valued at approximately $64,759.12. The trade was a 68.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,910 shares of company stock worth $1,874,647. Corporate insiders own 6.72% of the company's stock.

Wall Street Analysts Forecast Growth

IBEX has been the subject of a number of recent analyst reports. Robert W. Baird lowered IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 price objective for the company. in a research note on Monday, May 12th. Baird R W downgraded IBEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th.

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.