Jacobs Levy Equity Management Inc. Acquires 14,411 Shares of IBEX Limited (NASDAQ:IBEX)

Jacobs Levy Equity Management Inc. raised its holdings in IBEX Limited (NASDAQ:IBEX) by 20.4% during the third quarter, HoldingsChannel.com reports. The fund owned 85,149 shares of the company’s stock after purchasing an additional 14,411 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in IBEX were worth $1,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in IBEX during the 2nd quarter worth $38,000. FMR LLC increased its stake in shares of IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company’s stock valued at $43,000 after buying an additional 1,623 shares during the period. Janus Henderson Group PLC raised its holdings in IBEX by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock valued at $347,000 after buying an additional 1,842 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in IBEX during the 3rd quarter worth approximately $371,000. Finally, Martingale Asset Management L P increased its position in IBEX by 110.9% in the 3rd quarter. Martingale Asset Management L P now owns 21,720 shares of the company’s stock valued at $434,000 after acquiring an additional 11,421 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insiders Place Their Bets

In other IBEX news, Director Shuja Keen sold 6,086 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.46, for a total transaction of $124,519.56. Following the transaction, the director now owns 140,024 shares in the company, valued at approximately $2,864,891.04. This represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 82,572 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.20, for a total transaction of $1,667,954.40. Following the completion of the transaction, the insider now directly owns 1,421,547 shares in the company, valued at $28,715,249.40. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,680 shares of company stock worth $8,625,476. Corporate insiders own 6.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBEX. Robert W. Baird boosted their price objective on shares of IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price target on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, IBEX currently has a consensus rating of “Moderate Buy” and an average target price of $21.25.

IBEX Stock Up 0.1 %

Shares of NASDAQ IBEX opened at $19.79 on Monday. The company has a market capitalization of $331.68 million, a PE ratio of 10.47 and a beta of 0.80. The firm has a fifty day simple moving average of $19.40 and a 200 day simple moving average of $17.68. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $21.63.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.54 earnings per share (EPS) for the quarter. IBEX had a return on equity of 22.54% and a net margin of 6.57%. The company had revenue of $124.53 million for the quarter.

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.