Information Services Group (NASDAQ:III) Cut to “Buy” at Wall Street Zen

Information Services Group (NASDAQ:III) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

III has been the subject of a number of other reports. Barrington Research upped their price objective on Information Services Group from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Information Services Group in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Information Services Group currently has an average rating of “Hold” and an average price target of $7.00.

Information Services Group Stock Performance

Shares of III stock opened at $5.97 on Friday. The stock has a market capitalization of $285.84 million, a P/E ratio of 31.42, a PEG ratio of 1.49 and a beta of 1.04. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $5.50 and its 200 day moving average is $5.10. Information Services Group has a 12 month low of $2.95 and a 12 month high of $6.45.

Information Services Group (NASDAQ:III) last posted its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Information Services Group had a return on equity of 9.62% and a net margin of 4.05%.The company had revenue of $62.36 million during the quarter, compared to analyst estimates of $60.94 million. On average, sell-side analysts anticipate that Information Services Group will post 0.09 earnings per share for the current year.

Insider Transactions at Information Services Group

In related news, CEO Michael P. Connors sold 248,935 shares of Information Services Group stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $5.47, for a total transaction of $1,361,674.45. Following the completion of the transaction, the chief executive officer directly owned 5,284,797 shares of the company’s stock, valued at $28,907,839.59. This trade represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 493,703 shares of company stock worth $2,641,010. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Information Services Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in Information Services Group by 14.3% in the second quarter. Acadian Asset Management LLC now owns 448,690 shares of the business services provider’s stock worth $2,152,000 after buying an additional 56,131 shares in the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Information Services Group during the 2nd quarter valued at approximately $260,000. Goldman Sachs Group Inc. grew its stake in shares of Information Services Group by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,007 shares of the business services provider’s stock valued at $1,150,000 after acquiring an additional 3,453 shares during the period. Ritholtz Wealth Management purchased a new stake in Information Services Group in the 2nd quarter worth approximately $819,000. Finally, Nuveen LLC bought a new stake in Information Services Group during the 1st quarter worth approximately $267,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

About Information Services Group

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.