IBEX (NASDAQ:IBEX) Hits New 1-Year High - Still a Buy?

Key Points

• IBEX shares reached a new 52-week high of $45.30, well above their 50-day and 200-day moving averages. The company has a market capitalization of approximately $599 million and a P/E ratio of 14.42.
• IBEX exceeded quarterly expectations, reporting $0.85 in EPS versus the $0.84 consensus estimate and revenue of $164.27 million against expectations of $160.02 million.
• Analyst sentiment remains cautious: the consensus rating is “Hold” with an average price target of $42, below the current share price. Meanwhile, insiders sold 97,465 shares worth about $3.88 million over the past three months, while institutional investors own 81.24% of the stock.

IBEX Limited (NASDAQ:IBEX - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $45.30 and last traded at $45.26, with a volume of 20,430 shares traded. The stock had previously closed at $44.52.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Robert W. Baird increased their price objective on IBEX from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, September 28th. Wall Street Zen cut shares of IBEX from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. Finally, Weiss Ratings raised shares of IBEX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.00.

IBEX Price Performance

The stock's 50 day moving average is $39.30 and its 200-day moving average is $33.72. The company has a market capitalization of $599.16 million, a P/E ratio of 14.42 and a beta of 0.69.

IBEX (NASDAQ:IBEX - Get Free Report) last released its earnings results on Friday, September 11th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%. The company had revenue of $164.27 million during the quarter, compared to analysts' expectations of $160.02 million.

Insider Buying and Selling

In other news, Director Mingzhe Zhuang sold 5,522 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $40.10, for a total value of $221,432.20. Following the sale, the director directly owned 2,813 shares of the company's stock, valued at approximately $112,801.30. This represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina O'Connor sold 2,376 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $39.34, for a total value of $93,471.84. Following the transaction, the insider owned 26,855 shares of the company's stock, valued at $1,056,475.70. The trade was a 8.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,465 shares of company stock worth $3,882,291 over the last three months. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of IBEX

A number of institutional investors and hedge funds have recently bought and sold shares of IBEX. Dimensional Fund Advisors LP boosted its holdings in shares of IBEX by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company's stock valued at $9,607,000 after acquiring an additional 24,942 shares during the last quarter. Tieton Capital Management LLC purchased a new position in shares of IBEX during the second quarter valued at approximately $8,353,000. Hillsdale Investment Management Inc. lifted its position in IBEX by 2.8% during the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company's stock valued at $7,086,000 after purchasing an additional 7,300 shares during the period. Globeflex Capital L P purchased a new stake in IBEX in the second quarter worth approximately $3,112,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in IBEX by 121.8% in the first quarter. Y Intercept Hong Kong Ltd now owns 95,665 shares of the company's stock worth $2,566,000 after purchasing an additional 52,526 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

About IBEX

IBEX Limited is a provider of business process outsourcing and customer experience solutions. The company helps brands manage customer interactions across voice, chat, email, social media and other digital channels, combining contact-center operations with technology, analytics and automation.

Its services include customer care, technical support, sales, revenue generation, back-office processing and trust and safety programs. IBEX also offers digital transformation and artificial intelligence-enabled tools intended to improve customer engagement, agent productivity and operational performance.

IBEX serves clients in industries such as communications, health care, retail, logistics, financial services and technology.

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