IBEX (NASDAQ:IBEX) Hits New 1-Year High - What's Next?

Key Points

• IBEX shares reached a new 52-week high of $48.17, trading around $47.71 and well above their 50-day and 200-day moving averages. The company’s market capitalization is approximately $630.8 million.
• IBEX exceeded quarterly expectations, reporting $0.85 in EPS versus $0.84 expected and revenue of $164.27 million versus the $160.02 million consensus estimate.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $42, below the current share price. Insiders sold shares during the quarter, while institutional investors own 81.24% of the stock.

IBEX Limited (NASDAQ:IBEX - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $48.17 and last traded at $47.71, with a volume of 1,782 shares. The stock had previously closed at $47.23.

Analyst Upgrades and Downgrades

IBEX has been the topic of several research reports. Wall Street Zen lowered shares of IBEX from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. Weiss Ratings upgraded IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 12th. Finally, Robert W. Baird upped their target price on IBEX from $40.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $42.00.

IBEX Trading Up 0.6%

The firm has a 50-day moving average price of $41.22 and a 200-day moving average price of $35.04. The company has a market capitalization of $630.80 million, a price-to-earnings ratio of 15.11 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 the consensus estimate of $0.84 by $0.01. The business had revenue of $164.27 million during the quarter, compared to analyst estimates of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Insider Buying and Selling

In other IBEX news, insider Christina O'Connor sold 2,376 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $39.34, for a total value of $93,471.84. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Dechant sold 5,000 shares of the company's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $45.02, for a total value of $225,100.00. Following the sale, the chief executive officer directly owned 257,011 shares of the company's stock, valued at $11,570,635.22. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 97,465 shares of company stock worth $3,882,291. Insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On IBEX

Hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its position in IBEX by 272.4% during the 3rd quarter. Signaturefd LLC now owns 1,784 shares of the company's stock worth $77,000 after acquiring an additional 1,305 shares during the last quarter. Pinnacle Associates Ltd. raised its position in IBEX by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company's stock valued at $8,999,000 after purchasing an additional 6,932 shares during the last quarter. Bullock Wealth Management Group bought a new position in IBEX in the 3rd quarter valued at $36,000. Pinnacle Wealth Management Advisory Group LLC boosted its stake in IBEX by 33.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company's stock worth $321,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in IBEX by 6.4% in the second quarter. Squarepoint Ops LLC now owns 84,982 shares of the company's stock worth $2,581,000 after purchasing an additional 5,127 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

About IBEX

IBEX Limited NASDAQ: IBEX is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services.

The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.

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