Information Services Group, Inc. (NASDAQ:III) Declares Quarterly Dividend of $0.04


Information Services Group, Inc. (NASDAQ:III – Get Rating) announced a quarterly dividend on Monday, May 9, Zacks reports. Investors of record on Friday, June 3 will receive a dividend of 0.04 per share from the business services provider on Friday, June 17. This represents a dividend of $0.16 on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 2. This is a positive change from the Information Services Group’s previous quarterly dividend of $0.03.

The information services group has a payout ratio of 30.0%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Information Services Group to earn $0.39 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.12 with a ratio of expected future payout of 30.8%.

Shares of III traded down $0.31 on Wednesday, hitting $6.52. The stock had a trading volume of 2,196 shares, compared to an average volume of 320,255. The company 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 ratio of 0.71. The company has a 50-day moving average of $6.75 and a 200-day moving average of $7.35. Information Services Group has a 12-month low of $4.89 and a 12-month high of $9.70.

Information Services Group (NASDAQ:III – Get Rating) last released its quarterly results on Thursday, March 10. The business services provider reported earnings per share of $0.08 for the quarter, beating analyst consensus estimates of $0.07 by $0.01. The company posted revenue of $69.57 million for the quarter, versus $67.98 million expected by analysts. The information services group achieved a return on equity of 18.42% and a net margin of 5.59%. On average, sell-side analysts expect the information services group to post earnings per share of 0.28 for the current fiscal year.

A number of equity research analysts have commented on the company. StockNews.com assumed coverage of the news services group in a Thursday, March 31 report. They have set a “Strong Buy” rating on the stock. Zacks Investment Research upgraded Information Services Group from a “buy” to a “hold” rating in a Wednesday, January 12, report. Finally, Raymond James lowered his price target on Information Services Group from CA$37.00 to CA$29.00 in a Tuesday, February 22 report.

Several institutional investors have recently changed their stake in the company. JPMorgan Chase & Co. increased its stake in Information Services Group by 8.7% during the 1st quarter. JPMorgan Chase & Co. now owns 43,010 shares of the business services provider worth $293,000 after buying 3,444 additional shares during the period. BlackRock Inc. increased 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 worth $1,745,000 after purchasing an additional 14,725 shares during the period. Vident Investment Advisory LLC increased its stake in Information Services Group shares by 10.9% during the 4th quarter. Vident Investment Advisory LLC now owns 69,787 shares of the business services provider worth $532,000 after purchasing an additional 6,837 shares during the period. Wells Fargo & Company MN increased its stake in Information Services Group shares by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 25,316 shares of the business services provider worth $193,000 after purchasing an additional 2,304 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of Information Services Group during the 4th quarter for a value of $174,000. 52.73% of the shares are currently held by institutional investors.

About the Information Services Group (Get a rating)

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.

See also

Dividend history for Information Services Group (NASDAQ:III)



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