IBEX (NASDAQ:IBEX) Raised to Strong-Buy at Wall Street Zen

IBEX (NASDAQ:IBEX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their target price on IBEX from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Weiss Ratings cut IBEX from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

IBEX Stock Performance

IBEX opened at $29.55 on Friday. IBEX has a 1-year low of $21.64 and a 1-year high of $42.99. The company has a market cap of $396.27 million, a price-to-earnings ratio of 9.72 and a beta of 0.64. The company’s fifty day moving average price is $36.21 and its two-hundred day moving average price is $35.41.

IBEX (NASDAQ:IBEX) last posted its earnings results on Thursday, February 5th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.78 by $0.09. IBEX had a net margin of 7.35% and a return on equity of 31.70%. The company had revenue of $164.22 million during the quarter, compared to the consensus estimate of $155.48 million.

Insider Buying and Selling

In other IBEX news, insider Paul Joseph Inson sold 2,627 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $34.98, for a total value of $91,892.46. Following the transaction, the insider owned 27,469 shares of the company’s stock, valued at approximately $960,865.62. The trade was a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Thomas Dechant sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $29.63, for a total value of $177,780.00. Following the completion of the transaction, the chief executive officer owned 299,406 shares of the company’s stock, valued at $8,871,399.78. This trade represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,287 shares of company stock worth $327,739. 3.40% of the stock is owned by company insiders.

Institutional Trading of IBEX

A number of large investors have recently added to or reduced their stakes in IBEX. Invesco Ltd. raised its position in IBEX by 13.9% in the fourth quarter. Invesco Ltd. now owns 101,961 shares of the company’s stock worth $3,893,000 after acquiring an additional 12,452 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of IBEX during the 4th quarter worth approximately $337,000. Mackenzie Financial Corp raised its holdings in shares of IBEX by 111.3% in the 4th quarter. Mackenzie Financial Corp now owns 16,597 shares of the company’s stock worth $638,000 after purchasing an additional 8,744 shares during the period. NewEdge Advisors LLC purchased a new position in IBEX in the fourth quarter valued at approximately $315,000. Finally, Empowered Funds LLC bought a new position in IBEX during the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

About IBEX

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company’s core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.