Zacks Investment Research upgraded shares of Information Services Group, Inc. (NASDAQ:III) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
III has been the subject of a number of other reports. ValuEngine raised Information Services Group from a sell rating to a hold rating in a research report on Friday, September 1st. Noble Financial reissued a buy rating on shares of Information Services Group in a research report on Tuesday, August 8th. Finally, B. Riley reissued a buy rating and set a $6.50 price objective on shares of Information Services Group in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $5.50.
Shares of Information Services Group (III) traded down 2.17% during mid-day trading on Wednesday, hitting $4.05. 81,919 shares of the stock were exchanged. The company has a 50-day moving average price of $3.83 and a 200-day moving average price of $3.72. Information Services Group has a 12 month low of $2.95 and a 12 month high of $4.30. The stock’s market cap is $175.30 million.
Information Services Group (NASDAQ:III) last issued its earnings results on Monday, August 7th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Information Services Group had a negative return on equity of 10.15% and a negative net margin of 3.46%. The business had revenue of $68.04 million during the quarter, compared to the consensus estimate of $71.18 million. Equities analysts expect that Information Services Group will post $0.31 earnings per share for the current year.
In other Information Services Group news, EVP Thomas S. Kucinski acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of $3.65 per share, with a total value of $54,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 35,947 shares of company stock valued at $132,397 over the last three months. Corporate insiders own 12.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Information Services Group by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,743,298 shares of the business services provider’s stock valued at $7,165,000 after acquiring an additional 5,181 shares in the last quarter. Russell Investments Group Ltd. grew its position in Information Services Group by 9.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,427,740 shares of the business services provider’s stock valued at $5,868,000 after acquiring an additional 118,210 shares in the last quarter. Blair William & Co. IL grew its position in Information Services Group by 2.5% in the 2nd quarter. Blair William & Co. IL now owns 1,326,944 shares of the business services provider’s stock valued at $5,454,000 after acquiring an additional 32,315 shares in the last quarter. Punch & Associates Investment Management Inc. grew its position in Information Services Group by 6.4% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 895,000 shares of the business services provider’s stock valued at $3,678,000 after acquiring an additional 53,739 shares in the last quarter. Finally, Northern Right Capital Management L.P. grew its position in Information Services Group by 66.2% in the 2nd quarter. Northern Right Capital Management L.P. now owns 723,689 shares of the business services provider’s stock valued at $2,974,000 after acquiring an additional 288,181 shares in the last quarter. 41.85% of the stock is owned by institutional investors.
About Information Services Group
Information Services Group, Inc is a technology insights, market intelligence and advisory services company. The Company operates in the segment of fact-based sourcing advisory services. It supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services with a focus on information technology, business process transformation, program management services and enterprise resource planning.
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