Franklin Resources Inc. Acquires 46,849 Shares of IBEX Limited (NASDAQ:IBEX)

Franklin Resources Inc. boosted its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 296,114 shares of the company's stock after purchasing an additional 46,849 shares during the quarter. Franklin Resources Inc. owned about 1.77% of IBEX worth $6,363,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company's stock valued at $43,000 after acquiring an additional 1,623 shares during the period. Janus Henderson Group PLC grew its position in IBEX by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company's stock valued at $347,000 after purchasing an additional 1,842 shares during the period. State Street Corp increased its stake in IBEX by 1.2% during the 3rd quarter. State Street Corp now owns 181,035 shares of the company's stock valued at $3,617,000 after purchasing an additional 2,105 shares in the last quarter. Jane Street Group LLC raised its holdings in IBEX by 114.6% during the third quarter. Jane Street Group LLC now owns 29,960 shares of the company's stock worth $599,000 after buying an additional 15,999 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of IBEX in the third quarter valued at $68,000. Institutional investors own 81.24% of the company's stock.

IBEX Stock Up 2.4 %

NASDAQ:IBEX traded up $0.56 during trading hours on Tuesday, hitting $23.96. 29,744 shares of the company traded hands, compared to its average volume of 114,609. IBEX Limited has a one year low of $13.00 and a one year high of $27.83. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.01. The company has a market cap of $316.01 million, a PE ratio of 11.21 and a beta of 0.75. The firm's 50-day simple moving average is $24.88 and its 200-day simple moving average is $21.90.

IBEX (NASDAQ:IBEX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.02. IBEX had a return on equity of 25.29% and a net margin of 7.08%.

Insider Activity

In other IBEX news, CEO Robert Thomas Dechant sold 5,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $27.56, for a total transaction of $137,800.00. Following the sale, the chief executive officer now directly owns 213,633 shares of the company's stock, valued at $5,887,725.48. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Neil Dawson sold 13,500 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.00, for a total transaction of $324,000.00. Following the completion of the transaction, the insider now directly owns 5,607 shares of the company's stock, valued at approximately $134,568. This trade represents a 70.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,213 shares of company stock valued at $4,414,121 in the last three months. Company insiders own 6.72% of the company's stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their target price on shares of IBEX from $21.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th.

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.