Wellington Management Group LLP Cuts Stock Position in IBEX Limited (NASDAQ:IBEX)

Wellington Management Group LLP decreased its position in IBEX Limited (NASDAQ:IBEX - Free Report) by 33.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 521,375 shares of the company's stock after selling 258,621 shares during the period. Wellington Management Group LLP owned about 3.11% of IBEX worth $10,417,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IBEX. American Century Companies Inc. grew its stake in IBEX by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 1,338,863 shares of the company's stock valued at $21,663,000 after acquiring an additional 55,216 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of IBEX by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company's stock valued at $3,228,000 after purchasing an additional 3,052 shares during the last quarter. State Street Corp increased its stake in shares of IBEX by 1.2% during the 3rd quarter. State Street Corp now owns 181,035 shares of the company's stock worth $3,617,000 after purchasing an additional 2,105 shares in the last quarter. Sei Investments Co. raised its position in shares of IBEX by 12.1% during the 2nd quarter. Sei Investments Co. now owns 143,812 shares of the company's stock worth $2,327,000 after purchasing an additional 15,507 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in IBEX by 20.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 85,149 shares of the company's stock valued at $1,701,000 after buying an additional 14,411 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

IBEX Trading Up 0.5 %

Shares of IBEX stock traded up $0.10 during trading hours on Monday, reaching $20.17. 112,568 shares of the company's stock were exchanged, compared to its average volume of 75,609. The firm has a market capitalization of $338.15 million, a price-to-earnings ratio of 10.67 and a beta of 0.80. IBEX Limited has a 52-week low of $13.00 and a 52-week high of $21.63. The company has a fifty day moving average of $19.50 and a 200-day moving average of $17.88.

IBEX (NASDAQ:IBEX - Get Free Report) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share (EPS) for the quarter. IBEX had a return on equity of 22.54% and a net margin of 6.57%. The firm had revenue of $124.53 million for the quarter.

Insider Transactions at IBEX

In related news, Director Group International L. Resource sold 59,269 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $20.05, for a total value of $1,188,343.45. Following the transaction, the director now directly owns 5,375,114 shares of the company's stock, valued at approximately $107,771,035.70. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mohammedulla Khaishgi sold 1,883 shares of IBEX stock in a transaction on 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 $1,992,720. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 451,329 shares of company stock worth $9,021,471 in the last three months. Company insiders own 6.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBEX. Robert W. Baird boosted their price target on IBEX from $23.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of IBEX from $18.00 to $20.00 and gave the company a "sector perform" rating in a research note 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. According to data from MarketBeat, IBEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

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.