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

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

IBEX has been the topic of a number of other research reports. Piper Sandler reissued a neutral rating and issued a $17.00 target price on shares of IBEX in a research report on Friday, February 9th. TheStreet downgraded shares of IBEX from a b- rating to a c+ rating in a report on Wednesday, March 6th. Finally, Truist Financial reduced their target price on shares of IBEX from $25.00 to $22.00 and set a buy rating for the company in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $19.20.

IBEX Price Performance

NASDAQ IBEX opened at $13.54 on Friday. IBEX has a one year low of $11.45 and a one year high of $23.49. The firm has a market cap of $237.90 million, a P/E ratio of 8.62 and a beta of 0.62. The stock’s 50-day moving average is $14.82 and its 200-day moving average is $16.61.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). IBEX had a net margin of 5.79% and a return on equity of 20.10%. The company had revenue of $132.63 million during the quarter, compared to the consensus estimate of $137.38 million. Equities analysts anticipate that IBEX will post 1.95 EPS for the current year.

Insider Buying and Selling

In related news, insider Jeffrey Hays Cox sold 9,383 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.05, for a total value of $150,597.15. Following the sale, the insider now owns 385,251 shares in the company, valued at approximately $6,183,278.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IBEX

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in IBEX by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 26,176 shares of the company’s stock valued at $404,000 after purchasing an additional 748 shares during the period. Barclays PLC boosted its position in shares of IBEX by 15.9% in the third quarter. Barclays PLC now owns 9,932 shares of the company’s stock valued at $154,000 after acquiring an additional 1,363 shares during the period. Trexquant Investment LP grew its stake in shares of IBEX by 13.0% in the third quarter. Trexquant Investment LP now owns 18,106 shares of the company’s stock valued at $280,000 after acquiring an additional 2,085 shares in the last quarter. Quantbot Technologies LP increased its position in IBEX by 126.4% during the third quarter. Quantbot Technologies LP now owns 4,560 shares of the company’s stock worth $70,000 after acquiring an additional 2,546 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in IBEX by 6.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 40,925 shares of the company’s stock worth $632,000 after purchasing an additional 2,621 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

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.