Allspring Global Investments Holdings LLC Reduces Stock Position in IBEX Limited (NASDAQ:IBEX)

Allspring Global Investments Holdings LLC reduced its holdings in IBEX Limited (NASDAQ:IBEX) by 5.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,742 shares of the company’s stock after selling 1,865 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IBEX were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBEX. Kennedy Capital Management LLC boosted its stake in shares of IBEX by 341.7% during the 1st quarter. Kennedy Capital Management LLC now owns 282,675 shares of the company’s stock worth $4,362,000 after purchasing an additional 218,679 shares during the period. American Century Companies Inc. boosted its stake in shares of IBEX by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after purchasing an additional 55,216 shares during the period. Quadrature Capital Ltd purchased a new position in shares of IBEX during the 1st quarter worth about $349,000. Ritholtz Wealth Management purchased a new position in shares of IBEX during the 3rd quarter worth about $371,000. Finally, Sei Investments Co. boosted its stake in shares of IBEX by 12.1% during the 2nd quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock worth $2,327,000 after purchasing an additional 15,507 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Group International L. Resource sold 59,269 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $20.05, for a total value of $1,188,343.45. Following the sale, the director now directly owns 5,375,114 shares of the company’s stock, valued at $107,771,035.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Shuja Keen sold 15,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $19.95, for a total transaction of $299,250.00. Following the sale, the director now directly owns 146,110 shares of the company’s stock, valued at approximately $2,914,894.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Group International L. Resource sold 59,269 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $20.05, for a total transaction of $1,188,343.45. Following the sale, the director now directly owns 5,375,114 shares in the company, valued at $107,771,035.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,760 shares of company stock valued at $3,681,160 in the last ninety days. Insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Robert W. Baird lifted their price objective on shares of IBEX from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

IBEX Stock Up 0.9 %

NASDAQ:IBEX opened at $18.13 on Friday. The company has a market cap of $303.86 million, a PE ratio of 9.80 and a beta of 0.74. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $20.56. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $18.55 and its two-hundred day moving average is $16.59.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. The company had revenue of $124.53 million for the quarter. IBEX had a net margin of 6.62% and a return on equity of 22.04%.

IBEX Company 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.