Information Services Group, Inc. (NASDAQ:III – Get Rating) announced a quarterly dividend on Monday, May 9th, Zacks reports. Investors of record on Friday, June 3rd will be given a dividend of 0.04 per share by the business services provider on Friday, June 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 2nd. This is a positive change from Information Services Group’s previous quarterly dividend of $0.03.
Information Services Group has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Information Services Group to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 30.8%.
Shares of III traded up $0.31 on Wednesday, reaching $6.52. The stock had a trading volume of 2,196 shares, compared to its average volume of 320,255. The firm has a market capitalization of $315.21 million, a PE ratio of 20.03, a PEG ratio of 1.16 and a beta of 0.74. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $6.75 and a 200 day moving average of $7.35. Information Services Group has a twelve month low of $4.89 and a twelve month high of $9.70.
A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Information Services Group in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Zacks Investment Research cut Information Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th. Finally, Raymond James lowered their target price on Information Services Group from C$37.00 to C$29.00 in a report on Tuesday, February 22nd.
Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Information Services Group by 8.7% during the 1st quarter. JPMorgan Chase & Co. now owns 43,010 shares of the business services provider’s stock worth $293,000 after purchasing an additional 3,444 shares during the period. BlackRock Inc. lifted its stake in shares of Information Services Group by 6.9% during the 4th quarter. BlackRock Inc. now owns 228,934 shares of the business services provider’s stock worth $1,745,000 after purchasing an additional 14,725 shares during the period. Vident Investment Advisory LLC lifted its stake in shares of Information Services Group by 10.9% during the 4th quarter. Vident Investment Advisory LLC now owns 69,787 shares of the business services provider’s stock worth $532,000 after purchasing an additional 6,837 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Information Services Group by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 25,316 shares of the business services provider’s stock worth $193,000 after purchasing an additional 2,304 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in shares of Information Services Group during the 4th quarter worth $174,000. 52.73% of the stock is currently owned by institutional investors.
About Information Services Group (Get Rating)
Information Services Group, Inc, together with its subsidiaries, 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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