Information Services Group (III) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Information Services Group (NASDAQ:III) from a buy rating to a hold rating in a report published 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. “

Several other brokerages also recently weighed in on III. ValuEngine upgraded Information Services Group from a hold rating to a buy rating in a report on Wednesday, August 29th. TheStreet upgraded Information Services Group from a d+ rating to a c- rating in a report on Tuesday, September 4th. Noble Financial reiterated a buy rating and issued a $5.00 price target on shares of Information Services Group in a report on Tuesday, August 7th. Finally, Barrington Research reiterated a buy rating and issued a $6.00 price target on shares of Information Services Group in a report on Thursday, August 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $5.56.

Shares of III stock remained flat at $$4.18 during mid-day trading on Wednesday. The stock had a trading volume of 57,708 shares, compared to its average volume of 69,754. Information Services Group has a 52-week low of $3.83 and a 52-week high of $5.45. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $215.59 million, a PE ratio of 26.13, a P/E/G ratio of 1.44 and a beta of 0.10.

Information Services Group (NASDAQ:III) last announced its quarterly earnings results on Monday, August 6th. The business services provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $71.03 million during the quarter, compared to analyst estimates of $72.18 million. Information Services Group had a return on equity of 13.57% and a net margin of 0.47%. Analysts expect that Information Services Group will post 0.24 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Information Services Group by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 107,614 shares of the business services provider’s stock worth $441,000 after acquiring an additional 12,752 shares during the period. Millennium Management LLC lifted its position in Information Services Group by 97.9% during the 2nd quarter. Millennium Management LLC now owns 165,795 shares of the business services provider’s stock worth $680,000 after acquiring an additional 82,031 shares during the period. Private Capital Management LLC lifted its position in Information Services Group by 32.3% during the 2nd quarter. Private Capital Management LLC now owns 3,281,644 shares of the business services provider’s stock worth $13,455,000 after acquiring an additional 801,260 shares during the period. Macquarie Group Ltd. lifted its position in Information Services Group by 1,530.7% during the 2nd quarter. Macquarie Group Ltd. now owns 96,358 shares of the business services provider’s stock worth $395,000 after acquiring an additional 90,449 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Information Services Group by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,074,719 shares of the business services provider’s stock worth $8,506,000 after acquiring an additional 152,308 shares during the period. 45.26% of the stock is currently owned by institutional investors and hedge funds.

About Information Services Group

Information Services Group, Inc operates as a technology research and advisory company in the Americas, Europe, and the Asia Pacific. The company offers digital transformation services, including automation, cloud, and data analytics; sourcing advisory; managed governance and risk; network carrier; technology strategy and operations design; change management; and market intelligence and technology research and analysis services.

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