Robert W. Baird Forecasts Strong Price Appreciation for IBEX (NASDAQ:IBEX) Stock

IBEX (NASDAQ:IBEX) had its price objective lifted by Robert W. Baird from $23.00 to $26.00 in a report published on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Separately, Royal Bank of Canada upped their target price on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

IBEX Price Performance

Shares of NASDAQ IBEX opened at $20.18 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $338.22 million, a price-to-earnings ratio of 10.68 and a beta of 0.76. IBEX has a twelve month low of $13.00 and a twelve month high of $20.56. The business has a 50 day simple moving average of $18.80 and a 200-day simple moving average of $16.90.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.91%. The firm had revenue of $124.53 million during the quarter.

Insider Activity at IBEX

In other IBEX news, Director Mohammedulla Khaishgi sold 1,883 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $20.00, for a total value of $37,660.00. Following the completion of the transaction, the director now owns 99,636 shares in the company, valued at approximately $1,992,720. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Shuja Keen sold 6,086 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $20.46, for a total value of $124,519.56. Following the completion of the sale, the director now owns 140,024 shares of the company’s stock, valued at $2,864,891.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mohammedulla Khaishgi sold 1,883 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $20.00, for a total transaction of $37,660.00. Following the completion of the transaction, the director now owns 99,636 shares of the company’s stock, valued at $1,992,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,856 shares of company stock worth $3,723,080 in the last ninety days. 20.80% of the stock is owned by insiders.

Institutional Trading of IBEX

A number of institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management LLC raised its holdings in IBEX by 341.7% during the first quarter. Kennedy Capital Management LLC now owns 282,675 shares of the company’s stock worth $4,362,000 after purchasing an additional 218,679 shares in the last quarter. American Century Companies Inc. raised its stake in shares of IBEX by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after buying an additional 55,216 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of IBEX in the first quarter valued at $349,000. Ritholtz Wealth Management acquired a new position in IBEX during the third quarter worth about $371,000. Finally, Sei Investments Co. raised its position in IBEX by 12.1% in the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock worth $2,327,000 after acquiring an additional 15,507 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.