Zacks Investment Research cut shares of Information Services Group (NASDAQ:III) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “INFORMATION SERVICES GROUP, INC. was founded to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. ISG’s first acquisition – TPI, the world’s leading data and advisory firm in global sourcing – provides a solid platform upon which to build a prominent, high-growth information-based services company. Based in Stamford, Connecticut, ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. ISG’s strategy is to acquire and grow dynamic, innovative businesses that provide must have information-based services to such sectors as consumer products, retailing, financial services, manufacturing, media, marketing, healthcare, legal, government, telecommunications and technology. “
Other analysts have also issued research reports about the company. Barrington Research reissued a buy rating and issued a $6.00 target price on shares of Information Services Group in a research report on Thursday, August 2nd. Noble Financial reissued a buy rating and issued a $5.00 target price on shares of Information Services Group in a research report on Tuesday, August 7th. TheStreet raised Information Services Group from a d+ rating to a c- rating in a research report on Tuesday, September 4th. Finally, ValuEngine raised Information Services Group from a hold rating to a buy rating in a research report on Wednesday, August 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Information Services Group currently has an average rating of Buy and an average price target of $5.56.
III remained flat at $$4.18 during trading hours on Wednesday. The company had a trading volume of 57,708 shares, compared to its average volume of 69,754. Information Services Group has a 12-month low of $3.83 and a 12-month high of $5.45. The firm has a market capitalization of $215.59 million, a PE ratio of 26.13, a PEG ratio of 1.44 and a beta of 0.10. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.31.
Information Services Group (NASDAQ:III) last released its quarterly earnings data on Monday, August 6th. The business services provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Information Services Group had a return on equity of 13.57% and a net margin of 0.47%. The firm had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $72.18 million. As a group, equities analysts predict that Information Services Group will post 0.24 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Capital Management LLC raised its position in Information Services Group by 32.3% in the second quarter. Private Capital Management LLC now owns 3,281,644 shares of the business services provider’s stock valued at $13,455,000 after purchasing an additional 801,260 shares during the period. Renaissance Technologies LLC increased its position in shares of Information Services Group by 7.9% during the second quarter. Renaissance Technologies LLC now owns 2,074,719 shares of the business services provider’s stock worth $8,506,000 after acquiring an additional 152,308 shares during the period. BlackRock Inc. increased its position in shares of Information Services Group by 18.3% during the second quarter. BlackRock Inc. now owns 1,731,099 shares of the business services provider’s stock worth $7,097,000 after acquiring an additional 267,872 shares during the period. Blair William & Co. IL increased its position in shares of Information Services Group by 1.5% during the first quarter. Blair William & Co. IL now owns 1,381,609 shares of the business services provider’s stock worth $5,775,000 after acquiring an additional 20,450 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Information Services Group by 375.8% during the second quarter. Dimensional Fund Advisors LP now owns 239,680 shares of the business services provider’s stock worth $983,000 after acquiring an additional 189,311 shares during the period. 45.26% of the stock is currently owned by institutional investors.
About Information Services Group
Information Services Group, Inc operates as a technology research and advisory company in the Americas, Europe, and the Asia Pacific. The company offers digital transformation services, including automation, cloud, and data analytics; sourcing advisory; managed governance and risk; network carrier; technology strategy and operations design; change management; and market intelligence and technology research and analysis services.
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