IBEX (NASDAQ:IBEX) Sets New 12-Month High - Should You Buy?

Key Points

• IBEX reached a new 52-week high of $42.26, trading well above its 50-day and 200-day moving averages. The company recently exceeded quarterly expectations, reporting $0.85 in EPS and $164.27 million in revenue.
• Analyst sentiment remains cautious: IBEX has a consensus “Hold” rating and a $40.00 target price, below its latest trading level, despite some recent rating and target-price upgrades.
• Insiders have been selling shares, including the CEO’s $1.0 million sale, with insiders selling 92,465 shares worth about $3.66 million over three months. Institutional investors own a substantial 81.24% of the stock.

IBEX Limited (NASDAQ:IBEX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.26 and last traded at $42.1150, with a volume of 3348 shares trading hands. The stock had previously closed at $40.55.

Wall Street Analyst Weigh In

IBEX has been the subject of a number of recent research reports. Weiss Ratings raised shares of IBEX from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Wall Street Zen lowered IBEX from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Robert W. Baird raised their price target on IBEX from $35.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, IBEX currently has a consensus rating of "Hold" and a consensus target price of $40.00.

IBEX Stock Performance

The business's fifty day moving average price is $36.99 and its two-hundred day moving average price is $32.38. The stock has a market capitalization of $564.39 million, a P/E ratio of 13.50 and a beta of 0.72.

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

Insiders Place Their Bets

In other news, Director Mingzhe Zhuang sold 5,522 shares of IBEX stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total transaction of $221,432.20. Following the completion of the transaction, the director directly owned 2,813 shares of the company's stock, valued at $112,801.30. The trade was a 66.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Dechant sold 25,000 shares of IBEX stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00. Following the completion of the sale, the chief executive officer owned 262,011 shares in the company, valued at approximately $10,477,819.89. This trade represents a 8.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 92,465 shares of company stock worth $3,657,191. Company insiders own 3.40% of the company's stock.

Institutional Trading of IBEX

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of IBEX by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company's stock valued at $9,607,000 after purchasing an additional 24,942 shares during the last quarter. Tieton Capital Management LLC acquired a new stake in shares of IBEX in the second quarter valued at approximately $8,353,000. Hillsdale Investment Management Inc. increased its position in IBEX by 2.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company's stock worth $7,086,000 after purchasing an additional 7,300 shares in the last quarter. Globeflex Capital L P acquired a new stake in IBEX during the second quarter worth approximately $3,112,000. Finally, Los Angeles Capital Management LLC grew its position in shares of IBEX by 25.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 68,825 shares of the company's stock valued at $2,591,000 after purchasing an additional 13,807 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

About IBEX

IBEX Limited NASDAQ: IBEX is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company's services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.

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