Investment Technology Group, Inc. (NYSE:ITG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Investment Technology Group is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG’s services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk. “

Separately, ValuEngine raised shares of Investment Technology Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $20.67.

Investment Technology Group (ITG) traded up 0.92% on Tuesday, reaching $21.93. 144,907 shares of the company were exchanged. The firm’s market capitalization is $726.89 million. Investment Technology Group has a 12-month low of $15.04 and a 12-month high of $22.42. The stock has a 50 day moving average of $21.19 and a 200 day moving average of $20.41.

Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. Investment Technology Group had a negative net margin of 3.89% and a positive return on equity of 1.73%. The business had revenue of $120.80 million for the quarter, compared to the consensus estimate of $120.10 million. During the same period in the prior year, the company posted $0.05 earnings per share. Investment Technology Group’s revenue was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Investment Technology Group will post $0.73 EPS for the current year.

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A number of large investors have recently made changes to their positions in ITG. Boston Advisors LLC boosted its stake in shares of Investment Technology Group by 0.5% in the second quarter. Boston Advisors LLC now owns 16,040 shares of the financial services provider’s stock worth $268,000 after buying an additional 80 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Investment Technology Group by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,520 shares of the financial services provider’s stock worth $197,000 after buying an additional 120 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Investment Technology Group by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the financial services provider’s stock worth $246,000 after buying an additional 200 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Investment Technology Group by 1.3% in the first quarter. Texas Permanent School Fund now owns 22,863 shares of the financial services provider’s stock worth $463,000 after buying an additional 298 shares in the last quarter. Finally, Westpac Banking Corp boosted its stake in shares of Investment Technology Group by 0.4% in the third quarter. Westpac Banking Corp now owns 75,193 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 87.11% of the company’s stock.

Investment Technology Group Company Profile

Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.

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