JPMorgan Chase & Co. Raises Holdings in IBEX Limited (NASDAQ:IBEX)

JPMorgan Chase & Co. raised its position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 1,369.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,292 shares of the company's stock after buying an additional 264,947 shares during the quarter. JPMorgan Chase & Co. owned 1.70% of IBEX worth $6,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of IBEX by 314.5% during the 3rd quarter. FMR LLC now owns 2,139 shares of the company's stock valued at $43,000 after acquiring an additional 1,623 shares in the last quarter. R Squared Ltd acquired a new position in shares of IBEX during the fourth quarter valued at about $48,000. Quantbot Technologies LP raised its position in IBEX by 711.1% in the fourth quarter. Quantbot Technologies LP now owns 2,636 shares of the company's stock worth $57,000 after purchasing an additional 2,311 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in IBEX during the 3rd quarter worth approximately $68,000. Finally, SG Americas Securities LLC acquired a new position in IBEX in the fourth quarter worth $116,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

IBEX Stock Up 1.6 %

NASDAQ IBEX traded up $0.38 during trading hours on Wednesday, hitting $23.68. 20,216 shares of the company traded hands, compared to its average volume of 115,703. The business's 50-day moving average is $24.65 and its 200-day moving average is $22.04. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $27.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $312.39 million, a price-to-earnings ratio of 11.12 and a beta of 0.75.

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

Insider Buying and Selling at IBEX

In other IBEX news, CEO Robert Thomas Dechant sold 49,931 shares of IBEX stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $26.24, for a total transaction of $1,310,189.44. Following the completion of the transaction, the chief executive officer now owns 213,633 shares in the company, valued at approximately $5,605,729.92. The trade was a 18.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Neil Dawson sold 13,500 shares of IBEX 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 transaction, the insider now directly owns 5,607 shares in the company, valued at approximately $134,568. This represents a 70.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,607 shares of company stock valued at $4,355,486. 6.72% of the stock is currently owned by company 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.