Ibex Ltd Director Keen Shuja Sells Over $27K in Shares

Keen Shuja, a director at IBEX Ltd, recently sold 1,345 shares of the company at a weighted average price between $20.45 and $20.47, totaling approximately $27,507. This transaction occurred on September 23, 2024, and was disclosed in filings with the U.S. Securities and Exchange Commission.

Following this sale, Shuja retains ownership of 138,679 shares in IBEX Ltd. The transaction consisted of multiple trades, with the weighted average price reported. Shuja has expressed readiness to disclose the specific number of shares sold at each price upon request from the issuer, any security holder, or the SEC staff.

IBEX Ltd specializes in computer processing and data preparation services and is based in Washington D.C. This recent insider transaction may attract the attention of current and prospective investors, as they often analyze such activities for insights into company performance and executive sentiment.

The sale was executed with the approval of Lisa Lenstrohm, serving as Attorney-in-Fact, on September 24, 2024. Currently, there have been no statements from Shuja or IBEX Ltd regarding the reasons for the sale or its potential impact on the company’s operations or strategy.

In other notable updates, IBEX Ltd has reported a significant year, achieving a record earnings per share (EPS) of $2.10 and an increase in free cash flow to $27 million. Although annual revenue saw a slight decline to $509 million, Q4 revenue demonstrated a year-over-year increase, indicating a potential rebound. The company anticipates a positive outlook for fiscal year 2025, projecting revenue between $510 million and $525 million, with adjusted EBITDA expected to be between $67 million and $69 million.

Financial services firm Baird has raised its price target for IBEX shares to $23.00 from $20.00 while maintaining an Outperform rating. RBC Capital Markets has also increased its price target from $18 to $20, retaining a Sector Perform rating. These changes reflect the latest developments and the company’s financial forecasts.

Baird emphasized IBEX’s goal of achieving 5-7% revenue growth and 15% EBITDA margins over time, highlighting the role of artificial intelligence in expanding profit margins. The firm noted that IBEX’s Q4 figures for revenue, EBITDA, and EPS exceeded Wall Street expectations. Similarly, RBC Capital Markets reaffirmed its confidence in IBEX’s strategic direction, which includes focusing on more profitable service areas and adopting advanced technologies.

Amid insider trading activity, IBEX Ltd’s stock has demonstrated strong performance. Recent data indicates a significant share price increase of 33.93% over the last six months and a 34.38% return over the past year, suggesting robust investor confidence in the company despite the director’s sale.

Currently, IBEX Ltd is trading at a relatively low P/E ratio of 10.5 compared to near-term earnings growth, and an adjusted P/E ratio of 9.3 for the last twelve months. The company boasts a solid return on assets of 11.46% for the same period, indicating effective asset utilization for profit generation. These financial metrics, combined with the positive share performance, may reflect strong fundamentals in the company’s market position.

The company has also been recognized for having a high shareholder yield, signaling management’s commitment to shareholder value. Additionally, management has been actively buying back shares, which often suggests confidence in the stock’s undervaluation and may act as a catalyst for future price appreciation.

For those looking for deeper insights, more analysis regarding IBEX Ltd and its market performance may be available from various financial platforms, aiding investors in making informed investment decisions.

This article was generated with the support of AI and reviewed by an editor.