Voya Investment Management LLC Raises Stock Holdings in IBEX Limited $IBEX

Key Points

• Voya Investment Management LLC increased its holdings in IBEX Limited by 65.5% in the first quarter, now owning 15,767 shares valued at approximately $384,000.
• CEO Robert Thomas Dechant and CFO Taylor C. Greenwald both sold significant numbers of shares, with Dechant reducing his position by 19.00% after selling 45,027 shares for over $1.75 million.
• Royal Bank of Canada raised its target price for IBEX shares from $31.00 to $39.00, maintaining a "sector perform" rating amidst generally cautious analyst sentiment with an average price target of $34.50.

Voya Investment Management LLC grew its position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 65.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,767 shares of the company's stock after buying an additional 6,239 shares during the quarter. Voya Investment Management LLC owned 0.12% of IBEX worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of IBEX during the 1st quarter valued at approximately $475,000. Acadian Asset Management LLC increased its holdings in IBEX by 121.1% in the 1st quarter. Acadian Asset Management LLC now owns 411,466 shares of the company's stock valued at $10,011,000 after purchasing an additional 225,380 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of IBEX in the 1st quarter valued at about $756,000. Jacobs Levy Equity Management Inc. grew its holdings in IBEX by 73.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 116,395 shares of the company's stock worth $2,834,000 after acquiring an additional 49,167 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of IBEX during the first quarter worth $3,591,000. 81.24% of the stock is currently owned by institutional investors.

IBEX Trading Down 0.6%

IBEX opened at $41.01 on Friday. 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 business has a fifty day moving average price of $31.85 and a 200 day moving average price of $28.63. IBEX Limited has a 12 month low of $17.53 and a 12 month high of $42.99. The stock has a market capitalization of $545.84 million, a price-to-earnings ratio of 17.16 and a beta of 0.77.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada upped their target price on shares of IBEX from $31.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Friday, September 12th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.50.

Insider Activity

In other news, CEO Robert Thomas Dechant sold 45,027 shares of the firm's stock in a transaction dated 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 $7,466,841.11. This trade represents a 19.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Taylor C. Greenwald sold 2,295 shares of the business's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $40.73, for a total transaction of $93,475.35. Following the sale, the chief financial officer owned 33,561 shares of the company's stock, valued at $1,366,939.53. This trade represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,617 shares of company stock worth $3,118,958. 6.72% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding IBEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IBEX Limited (NASDAQ:IBEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.