CIBC Reaffirms Hold Rating for Information Services Group (III)

CIBC reiterated their hold rating on shares of Information Services Group (NASDAQ:III) in a research note released on Thursday, AnalystRatings.com reports. The brokerage currently has a $3.00 target price on the business services provider’s stock.

III has been the subject of a number of other reports. Barrington Research downgraded Information Services Group from an outperform rating to a market perform rating in a report on Monday, March 18th. Zacks Investment Research downgraded Information Services Group from a buy rating to a hold rating in a report on Wednesday, March 13th. ValuEngine downgraded Information Services Group from a hold rating to a sell rating in a report on Monday. Finally, Noble Financial reaffirmed a buy rating and issued a $5.25 price target on shares of Information Services Group in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Information Services Group has an average rating of Hold and a consensus target price of $4.75.

III traded down $0.09 on Thursday, reaching $3.05. The company’s stock had a trading volume of 2,582 shares, compared to its average volume of 75,198. The company has a quick ratio of 2.42, a current ratio of 2.25 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $146.95 million, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.37. Information Services Group has a fifty-two week low of $2.82 and a fifty-two week high of $5.45.

Information Services Group (NASDAQ:III) last announced its quarterly earnings results on Thursday, March 14th. The business services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.08). The business had revenue of $67.90 million during the quarter, compared to analyst estimates of $72.67 million. Information Services Group had a net margin of 1.70% and a return on equity of 11.69%. On average, equities analysts anticipate that Information Services Group will post 0.17 EPS for the current fiscal year.

In other news, Vice Chairman Todd D. Lavieri acquired 13,500 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $3.74 per share, with a total value of $50,490.00. Following the completion of the acquisition, the insider now owns 630,790 shares of the company’s stock, valued at $2,359,154.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Connors purchased 40,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were bought at an average price of $3.72 per share, with a total value of $148,800.00. Following the purchase, the chief executive officer now directly owns 4,884,944 shares of the company’s stock, valued at $18,171,991.68. The disclosure for this purchase can be found here. Insiders bought 55,550 shares of company stock valued at $206,896 over the last three months. Corporate insiders own 13.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Equitable Trust Co. raised its stake in shares of Information Services Group by 7.7% during the first quarter. Equitable Trust Co. now owns 287,617 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 20,500 shares during the last quarter. Private Capital Management LLC raised its stake in shares of Information Services Group by 19.0% during the first quarter. Private Capital Management LLC now owns 4,570,564 shares of the business services provider’s stock worth $17,048,000 after purchasing an additional 730,728 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Information Services Group by 1.7% during the first quarter. Renaissance Technologies LLC now owns 2,287,954 shares of the business services provider’s stock worth $8,534,000 after purchasing an additional 37,173 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Information Services Group by 2.4% during the first quarter. Blair William & Co. IL now owns 1,505,219 shares of the business services provider’s stock worth $5,614,000 after purchasing an additional 34,935 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Information Services Group by 0.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 937,000 shares of the business services provider’s stock worth $3,495,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 46.87% of the company’s stock.

Information Services Group Company Profile

Information Services Group, Inc engages in the provision of sourcing advisory services. It operaets through the following geographical segments: Americas, Europe, and Asia Pacific. The firm offers business advisory, human resources technology and delivery services, organizational change management and software advisory services to the aerospace, defence, automotive, banking, energy, healthcare and insurance industries.

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