Royal Bank of Canada Issues Positive Forecast for IBEX (NASDAQ:IBEX) Stock Price

IBEX (NASDAQ:IBEX - Get Free Report) had its target price hoisted by equities research analysts at Royal Bank of Canada from $21.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective indicates a potential downside of 7.51% from the stock's previous close.

Separately, Robert W. Baird lifted their price objective on shares of IBEX from $23.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th.

IBEX Stock Up 4.2 %

IBEX stock traded up $1.04 during midday trading on Friday, hitting $25.95. The company's stock had a trading volume of 478,703 shares, compared to its average volume of 153,867. The firm has a market capitalization of $434.92 million, a P/E ratio of 12.18 and a beta of 0.78. The firm has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $19.44. IBEX has a 52-week low of $13.00 and a 52-week high of $26.22.

IBEX (NASDAQ:IBEX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. IBEX had a net margin of 7.08% and a return on equity of 23.13%.

Insider Buying and Selling

In related news, insider Bruce Neil Dawson sold 13,500 shares of IBEX stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.00, for a total transaction of $324,000.00. Following the sale, the insider now directly owns 5,607 shares in the company, valued at $134,568. This trade represents a 70.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the insider now owns 1,309,781 shares in the company, valued at approximately $26,195,620. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,008 shares of company stock worth $6,154,153 in the last ninety days. 6.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC acquired a new position in IBEX in the fourth quarter valued at $1,169,000. Prudential Financial Inc. acquired a new position in IBEX in the fourth quarter valued at $280,000. Heron Bay Capital Management increased its stake in IBEX by 4.8% in the fourth quarter. Heron Bay Capital Management now owns 17,640 shares of the company's stock valued at $379,000 after purchasing an additional 810 shares during the period. Hillsdale Investment Management Inc. increased its stake in IBEX by 35.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 212,200 shares of the company's stock valued at $4,560,000 after purchasing an additional 55,900 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of IBEX by 711.1% in the fourth quarter. Quantbot Technologies LP now owns 2,636 shares of the company's stock valued at $57,000 after acquiring an additional 2,311 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Company Profile

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.