Royal Bank Of Canada Issues Positive Forecast for IBEX (NASDAQ:IBEX) Stock Price

Key Points

• Royal Bank of Canada has increased the price target for IBEX from $31.00 to $39.00, with a "sector perform" rating, suggesting a potential downside of 4.58% from the current price.
• IBEX shares have recently seen a significant increase of 34.2%, currently trading at $40.87, with a market capitalization of $546.43 million.
• Insider trading activity shows significant selling, with a director selling 5,000 shares at $28.01, and total insider sales amounting to $590,050 in the last 90 days.

IBEX (NASDAQ:IBEX - Get Free Report) had its target price lifted by analysts at Royal Bank Of Canada from $31.00 to $39.00 in a report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential downside of 3.17% from the company's current price.

IBEX Stock Up 3.6%

Shares of IBEX stock traded up $1.39 on Friday, hitting $40.28. The stock had a trading volume of 101,585 shares, compared to its average volume of 170,143. The stock has a market cap of $536.06 million, a price-to-earnings ratio of 16.94 and a beta of 0.77. The business has a 50 day moving average of $30.02 and a 200 day moving average of $27.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.82. IBEX has a 12-month low of $17.53 and a 12-month high of $42.99.

Insider Transactions at IBEX

In other IBEX news, CEO Robert Thomas Dechant sold 4,376 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $30.00, for a total transaction of $131,280.00. Following the completion of the transaction, the chief executive officer owned 193,633 shares in the company, valued at $5,808,990. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Joseph Inson sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider owned 7,352 shares of the company's stock, valued at $220,560. This represents a 57.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,572 shares of company stock valued at $708,154 in the last quarter. Company insiders own 6.72% of the company's stock.

Institutional Investors Weigh In On IBEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE bought a new stake in shares of IBEX in the 1st quarter worth approximately $41,000. Deutsche Bank AG bought a new stake in shares of IBEX in the 4th quarter worth approximately $46,000. CWM LLC lifted its holdings in shares of IBEX by 392.7% in the 1st quarter. CWM LLC now owns 2,853 shares of the company's stock worth $69,000 after acquiring an additional 2,274 shares during the last quarter. Amundi bought a new stake in shares of IBEX in the 1st quarter worth approximately $74,000. Finally, State of Wyoming purchased a new position in shares of IBEX in the fourth quarter worth $119,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.