Sheets Smith Wealth Management Acquires New Position in IBEX Limited $IBEX

Key Points

• Sheets Smith Wealth Management acquired a new position in IBEX Limited, purchasing 16,410 shares valued at approximately $478,000.
• The Royal Bank of Canada raised its target price on IBEX from $31 to $39, maintaining a "sector perform" rating.
• Insider trading activity includes CEO Robert Thomas Dechant selling 45,027 shares, reducing his position by 19%, while CFO Taylor C. Greenwald also sold 2,295 shares.

Sheets Smith Wealth Management bought a new position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,410 shares of the company's stock, valued at approximately $478,000. Sheets Smith Wealth Management owned 0.12% of IBEX at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IBEX. US Bancorp DE purchased a new stake in shares of IBEX in the first quarter worth $41,000. Deutsche Bank AG purchased a new position in IBEX during the fourth quarter valued at $46,000. CWM LLC lifted its stake in IBEX by 392.7% in the 1st quarter. CWM LLC now owns 2,853 shares of the company's stock worth $69,000 after purchasing an additional 2,274 shares in the last quarter. Amundi bought a new position in shares of IBEX during the 1st quarter valued at about $74,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of IBEX during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Upgrades and Downgrades

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

IBEX Stock Up 1.4%

Shares of NASDAQ IBEX opened at $41.82 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. IBEX Limited has a 12-month low of $17.53 and a 12-month high of $42.99. The firm's 50-day moving average price is $31.40 and its 200-day moving average price is $28.37. The stock has a market capitalization of $556.62 million, a price-to-earnings ratio of 17.50 and a beta of 0.77.

Insiders Place Their Bets

In other news, CEO Robert Thomas Dechant sold 45,027 shares of IBEX stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $38.89, for a total value of $1,751,100.03. Following the completion of the transaction, the chief executive officer owned 191,999 shares in the company, valued at approximately $7,466,841.11. The trade was a 19.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Taylor C. Greenwald sold 2,295 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $40.73, for a total value of $93,475.35. Following the sale, the chief financial officer owned 33,561 shares in the company, valued at $1,366,939.53. The trade was a 6.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,617 shares of company stock worth $3,118,958. 6.72% of the stock is currently owned by company insiders.

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.

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