Insider Selling: IBEX (NASDAQ:IBEX) CEO Sells 5,000 Shares of Stock

IBEX Limited (NASDAQ:IBEX) CEO Robert Dechant sold 5,000 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $50.01, for a total transaction of $250,050.00. Following the sale, the chief executive officer directly owned 297,448 shares in the company, valued at $14,875,374.48. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Friday, September 25th, Robert Dechant sold 5,000 shares of IBEX stock. The stock was sold at an average price of $45.02, for a total transaction of $225,100.00.
• 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 value of $999,750.00.

IBEX Stock Up 3.9%

Shares of NASDAQ:IBEX traded up $1.95 during midday trading on Tuesday, reaching $52.23. The company had a trading volume of 432,801 shares, compared to its average volume of 124,838. The business’s 50 day moving average price is $43.25 and its 200 day moving average price is $34.57. The stock has a market cap of $696.75 million, a PE ratio of 15.83 and a beta of 0.74. IBEX Limited has a 1-year low of $25.94 and a 1-year high of $52.29.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.20. IBEX had a return on equity of 28.96% and a net margin of 7.19%. The business had revenue of $175.23 million for the quarter, compared to analyst estimates of $169.31 million.

Analysts Set New Price Targets

Several research firms have weighed in on IBEX. Weiss Ratings raised IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Robert W. Baird increased their price objective on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 28th. Wall Street Zen raised shares of IBEX from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada raised their target price on shares of IBEX from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, IBEX currently has an average rating of “Hold” and an average price target of $44.50.

Institutional Investors Weigh In On IBEX

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Advisers LLC lifted its stake in IBEX by 18.9% in the 3rd quarter. Virtus Advisers LLC now owns 22,920 shares of the company’s stock valued at $992,000 after purchasing an additional 3,645 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in IBEX by 370.5% during the third quarter. Russell Investments Group Ltd. now owns 14,361 shares of the company’s stock worth $623,000 after purchasing an additional 11,309 shares during the period. Ritholtz Wealth Management grew its holdings in IBEX by 10.0% during the third quarter. Ritholtz Wealth Management now owns 60,230 shares of the company’s stock worth $2,606,000 after purchasing an additional 5,480 shares during the period. D Orazio & Associates Inc. acquired a new position in IBEX during the third quarter worth approximately $213,000. Finally, Allspring Global Investments Holdings LLC increased its position in IBEX by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 28,660 shares of the company’s stock worth $1,240,000 after buying an additional 1,125 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

IBEX Company Profile

IBEX Limited (NASDAQ: IBEX) is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services. The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.