State Street Corp Purchases 2,105 Shares of IBEX Limited (NASDAQ:IBEX)

State Street Corp boosted its position in IBEX Limited (NASDAQ:IBEX) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 181,035 shares of the company’s stock after acquiring an additional 2,105 shares during the period. State Street Corp’s holdings in IBEX were worth $3,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IBEX. American Century Companies Inc. raised its holdings in shares of IBEX by 4.3% during the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock valued at $21,663,000 after acquiring an additional 55,216 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of IBEX during the 3rd quarter valued at $556,000. Quadrature Capital Ltd bought a new position in shares of IBEX in the 3rd quarter worth about $522,000. Ritholtz Wealth Management bought a new stake in IBEX during the third quarter worth about $371,000. Finally, Sei Investments Co. lifted its holdings in shares of IBEX by 12.1% during the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock valued at $2,327,000 after purchasing an additional 15,507 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Gem G.P. L.P. Pinebridge II sold 19,642 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $19.03, for a total value of $373,787.26. Following the transaction, the director now owns 1,719,739 shares in the company, valued at approximately $32,726,633.17. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shuja Keen sold 11,199 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $21.95, for a total transaction of $245,818.05. Following the transaction, the director now owns 47,727 shares of the company’s stock, valued at $1,047,607.65. This represents a 19.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,496 shares of company stock worth $7,549,485. Corporate insiders own 6.72% of the company’s stock.

IBEX Price Performance

Shares of IBEX opened at $21.45 on Tuesday. The business’s 50 day simple moving average is $19.74 and its 200-day simple moving average is $18.18. IBEX Limited has a 1 year low of $13.00 and a 1 year high of $21.96. The stock has a market capitalization of $359.50 million, a price-to-earnings ratio of 11.35 and a beta of 0.80.

Wall Street Analysts Forecast Growth

IBEX has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. Robert W. Baird increased their price objective on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

IBEX 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.