Information Services Group Inc. (III) Cut to Sell at Zacks Investment Research
Information Services Group Inc. (NASDAQ:III) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
III has been the topic of a number of other research reports. B. Riley reiterated a “buy” rating and set a $6.25 price target on shares of Information Services Group in a research note on Wednesday, August 10th. Maxim Group lifted their price target on shares of Information Services Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Monday, August 8th.
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Information Services Group (NASDAQ:III) traded down 3.09% on Tuesday, reaching $3.76. 44,634 shares of the company’s stock were exchanged. The stock has a market capitalization of $134.21 million, a PE ratio of 35.47 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 of $3.97 and a 200 day moving average of $3.91.
Information Services Group (NASDAQ:III) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.02. The company earned $60.40 million during the quarter, compared to analyst estimates of $55.60 million. Information Services Group had a return on equity of 16.95% and a net margin of 1.84%. Equities analysts predict that Information Services Group will post $0.27 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Information Services Group during the second quarter valued at approximately $5,093,000. Vanguard Group Inc. increased its stake in shares of Information Services Group by 9.1% in the second quarter. Vanguard Group Inc. now owns 1,053,239 shares of the company’s stock valued at $3,950,000 after buying an additional 87,551 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Information Services Group by 895.0% in the second quarter. BlackRock Fund Advisors now owns 810,821 shares of the company’s stock valued at $3,041,000 after buying an additional 729,330 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of Information Services Group by 37.8% in the second quarter. Punch & Associates Investment Management Inc. now owns 747,300 shares of the company’s stock valued at $2,802,000 after buying an additional 205,018 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Information Services Group by 1,589.2% in the second quarter. State Street Corp now owns 256,751 shares of the company’s stock valued at $962,000 after buying an additional 241,551 shares in the last quarter. Institutional investors own 52.49% of the company’s stock.
About Information Services Group
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.
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