Information Services Group Inc. (NASDAQ:III) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
A number of other equities research analysts also recently weighed in on the company. Maxim Group boosted their price target on Information Services Group from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday, August 8th. B. Riley restated a “buy” rating and set a $6.25 price objective on shares of Information Services Group in a research note on Monday, August 15th.
Shares of Information Services Group (NASDAQ:III) opened at 3.96 on Tuesday. The firm has a market cap of $141.35 million, a P/E ratio of 37.36 and a beta of 0.40. Information Services Group has a 12-month low of $2.86 and a 12-month high of $4.32. The firm has a 50-day moving average price of $3.97 and a 200-day moving average price of $3.91.
Information Services Group (NASDAQ:III) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.02. Information Services Group had a net margin of 1.84% and a return on equity of 16.95%. The firm earned $60.40 million during the quarter, compared to the consensus estimate of $55.60 million. On average, equities research analysts expect that Information Services Group will post $0.27 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. bought a new position in shares of Information Services Group during the second quarter worth approximately $120,000. Teachers Advisors Inc. acquired a new position in Information Services Group during the second quarter valued at about $191,000. Algert Global LLC acquired a new position in Information Services Group during the third quarter valued at about $207,000. Schwab Charles Investment Management Inc. acquired a new position in Information Services Group during the second quarter valued at about $210,000. Finally, Bank of New York Mellon Corp boosted its position in Information Services Group by 164.2% in the second quarter. Bank of New York Mellon Corp now owns 96,393 shares of the company’s stock valued at $361,000 after buying an additional 59,908 shares during the last quarter. Hedge funds and other institutional investors own 52.49% of the company’s stock.
Information Services Group Company Profile
Information Services Group, Inc (ISG) is a technology insights, market intelligence and advisory services company. The Company operates in the segment of fact-based sourcing advisory services. ISG 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.