IBEX (NASDAQ:IBEX) CEO Sells $225,100.00 in Stock

IBEX Limited (NASDAQ:IBEX) CEO Robert Dechant sold 5,000 shares of the stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $45.02, for a total transaction of $225,100.00. Following the sale, the chief executive officer directly owned 257,011 shares of the company’s stock, valued at $11,570,635.22. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Thomas Dechant also recently made the following trade(s):

• On Tuesday, September 15th, Robert Dechant sold 25,000 shares of IBEX stock. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00.

IBEX Trading Up 2.4%

NASDAQ IBEX opened at $44.28 on Friday. The firm’s fifty day simple moving average is $38.29 and its two-hundred day simple moving average is $33.08. The firm has a market capitalization of $588.04 million, a P/E ratio of 14.15 and a beta of 0.69. IBEX Limited has a 12-month low of $25.94 and a 12-month high of $45.28.

IBEX (NASDAQ:IBEX) last announced its earnings results on Friday, September 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%.The firm had revenue of $164.27 million for the quarter, compared to the consensus estimate of $160.02 million.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IBEX. Wall Street Zen lowered IBEX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Robert W. Baird lifted their target price on shares of IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Weiss Ratings raised shares of IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.00.

Institutional Trading of IBEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its holdings in shares of IBEX by 159.1% in the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock valued at $101,000 after purchasing an additional 1,618 shares during the period. Sargent Investment Group LLC purchased a new position in shares of IBEX in the fourth quarter worth about $249,000. Evolve Private Wealth LLC lifted its holdings in shares of IBEX by 5.7% during the first quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company’s stock worth $276,000 after purchasing an additional 555 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of IBEX by 33.0% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock worth $321,000 after purchasing an additional 2,625 shares during the period. Finally, Horizon Investment Services LLC boosted its position in IBEX by 70.4% in the fourth quarter. Horizon Investment Services LLC now owns 10,745 shares of the company’s stock valued at $410,000 after buying an additional 4,440 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

IBEX Company Profile

IBEX Limited (NASDAQ: IBEX) is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company’s services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.