IBEX (NASDAQ:IBEX) Downgraded by Robert W. Baird to “Neutral”

Robert W. Baird lowered shares of IBEX (NASDAQ:IBEX) from an outperform rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has $30.00 price target on the stock.

Separately, Royal Bank of Canada increased their price objective on shares of IBEX from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th.

IBEX Stock Performance

IBEX stock opened at $28.12 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.44. IBEX has a 1-year low of $14.20 and a 1-year high of $32.08. The firm has a market capitalization of $370.96 million, a P/E ratio of 13.20 and a beta of 0.74. The company’s 50-day moving average is $24.59 and its 200 day moving average is $22.73.

Insider Transactions at IBEX

In other news, Director Mohammedulla Khaishgi sold 12,600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $25.74, for a total transaction of $324,324.00. Following the transaction, the director now directly owns 152,912 shares of the company’s stock, valued at approximately $3,935,954.88. This trade represents a 7.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Thomas Dechant sold 49,931 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.24, for a total transaction of $1,310,189.44. Following the transaction, the chief executive officer now directly owns 213,633 shares in the company, valued at approximately $5,605,729.92. This trade represents a 18.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,285 shares of company stock valued at $3,036,393. 6.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IBEX

Institutional investors have recently bought and sold shares of the business. US Bancorp DE purchased a new position in IBEX during the first quarter valued at approximately $41,000. Russell Investments Group Ltd. increased its holdings in IBEX by 8,785.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company’s stock valued at $40,000 after buying an additional 1,845 shares during the period. Tower Research Capital LLC TRC increased its holdings in IBEX by 267.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $41,000 after buying an additional 1,401 shares during the period. Deutsche Bank AG purchased a new position in IBEX during the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new position in IBEX during the fourth quarter valued at approximately $48,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.