IBEX (NASDAQ:IBEX) Price Target Lowered to $20.00 at Robert W. Baird

IBEX (NASDAQ:IBEX) had its price target reduced by Robert W. Baird from $21.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial cut their target price on IBEX from $25.00 to $22.00 and set a buy rating for the company in a research report on Friday, February 9th. TheStreet downgraded IBEX from a b- rating to a c+ rating in a research report on Wednesday, March 6th. Finally, Piper Sandler restated a neutral rating and issued a $17.00 target price on shares of IBEX in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $19.20.

IBEX Trading Up 1.5 %

Shares of NASDAQ IBEX opened at $13.36 on Friday. The stock has a 50 day simple moving average of $14.87 and a 200-day simple moving average of $16.61. The company has a market cap of $234.74 million, a PE ratio of 8.51 and a beta of 0.62. IBEX has a 12-month low of $11.45 and a 12-month high of $23.49.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). The business had revenue of $132.63 million for the quarter, compared to analyst estimates of $137.38 million. IBEX had a return on equity of 20.10% and a net margin of 5.79%. Sell-side analysts forecast that IBEX will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling at IBEX

In other news, insider Jeffrey Hays Cox sold 7,331 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.06, for a total transaction of $117,735.86. Following the transaction, the insider now directly owns 402,920 shares in the company, valued at approximately $6,470,895.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On IBEX

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of IBEX by 82.7% during the 4th quarter. Legal & General Group Plc now owns 1,047 shares of the company’s stock valued at $26,000 after acquiring an additional 474 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in IBEX by 12.6% in the third quarter. Lazard Asset Management LLC now owns 5,201 shares of the company’s stock worth $80,000 after purchasing an additional 583 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in IBEX by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,674 shares of the company’s stock worth $504,000 after purchasing an additional 636 shares in the last quarter. Amalgamated Bank boosted its holdings in IBEX by 80.7% in the fourth quarter. Amalgamated Bank now owns 1,635 shares of the company’s stock worth $41,000 after purchasing an additional 730 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in IBEX by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 26,176 shares of the company’s stock worth $404,000 after purchasing an additional 748 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

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.