Ritholtz Wealth Management reduced its holdings of Information Services Group, Inc. (NASDAQ:III – Get Rating) stock by 18.3% in Q1, HoldingsChannel reports. The company held 42,728 shares of the business services provider after selling 9,590 shares during the quarter. Ritholtz Wealth Management’s holdings in Information Services Group were worth $291,000 when it last filed with the Securities and Exchange Commission (SEC).
Several other institutional investors also changed their positions in the company. HighTower Advisors LLC increased its position in Information Services Group shares by 19.3% during the 4th quarter. HighTower Advisors LLC now owns 12,364 shares of the business services provider valued at $94,000 after buying an additional 2,000 shares in the last quarter. Squarepoint Ops LLC increased its position in Information Services Group shares by 6.2% during the third quarter. Squarepoint Ops LLC now owns 34,291 shares of the business services provider valued at $246,000 after buying 2,007 additional shares in the last quarter. Lazard Asset Management LLC increased its position in Information Services Group shares by 16.0% during the fourth quarter. Lazard Asset Management LLC now owns 16,196 shares of the business services provider valued at $123,000 after buying 2,228 additional shares in the last quarter. Dimensional Fund Advisors LP increased its position in Information Services Group shares by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 917,704 shares of the business services provider valued at $6,589,000 after buying 2,954 additional shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Information Services Group by 12.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 27,364 shares of the business services provider worth $209,000 after acquiring 3,128 additional shares in the last quarter. 52.73% of the shares are held by hedge funds and other institutional investors.
Separately, StockNews.com began covering Information Services Group in a Thursday, March 31 report. They issued a “Strong Buy” rating for the company.
Shares of III opened at $6.66 on Wednesday. The company has a 50-day moving average of $6.19 and a 200-day moving average of $6.79. Information Services Group, Inc. has a fifty-two week minimum of $5.41 and a fifty-two week maximum of $9.70. The company has a market cap of $320.45 million, a P/E ratio of 19.59, a price-to-earnings growth ratio of 1.05, and a beta of 0.74. The company has a debt ratio of 0.70, a quick ratio of 2.02 and a current ratio of 2.02.
Information Services Group (NASDAQ:III – Get Rating) last reported quarterly earnings data on Monday, May 9. The business services provider reported earnings per share of $0.10 for the quarter, beating the consensus estimate of $0.05 by $0.05. The information services group achieved a return on equity of 19.97% and a net margin of 6.00%. The company posted revenue of $72.56 million in the quarter, versus analyst estimates of $70.06 million. As a group, research analysts predict Information Services Group, Inc. will post 0.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.04. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $0.16 and a yield of 2.40%. This is an increase from the Information Services Group’s previous quarterly dividend of $0.03. The Information Services Group’s dividend payout ratio (DPR) is currently 47.06%.
In other news from the Information Services Group, Director Bruce Pfau sold 13,560 shares of the company in a trade dated Thursday, June 2. The stock was sold at an average price of $6.63, for a total value of $89,902.80. Following completion of the transaction, the administrator now owns 132,704 shares of the company, valued at approximately $879,827.52. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. 15.30% of the shares are held by insiders of the company.
Information Services Group Company Profile (Get an assessment)
Information Services Group, Inc, together with its subsidiaries, operates as a research and technology consulting company in the Americas, Europe and Asia-Pacific. The company offers digital transformation services, including automation, cloud and data analytics; procurement advice; governance and controlled risks; network operator; technology strategy and operations design; change management; and business information and technology research and analysis services.
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