Investment Technology Group Inc. (NYSE:ITG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $22.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.17% from the company’s current price.

According to Zacks, “Investment Technology Group is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG’s services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk. “

Other analysts also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $20.00 target price on shares of Investment Technology Group in a research note on Monday, August 8th. TheStreet downgraded Investment Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. cut their target price on Investment Technology Group from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, July 29th.

Investment Technology Group (NYSE:ITG) traded up 0.47% during mid-day trading on Tuesday, reaching $19.44. 226,753 shares of the company were exchanged. Investment Technology Group has a 1-year low of $14.95 and a 1-year high of $22.92. The stock’s 50-day moving average price is $16.91 and its 200-day moving average price is $16.89. The stock has a market capitalization of $633.08 million, a price-to-earnings ratio of 12.76 and a beta of 1.33.

Investment Technology Group (NYSE:ITG) last issued its earnings results on Wednesday, November 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Investment Technology Group had a negative return on equity of 0.96% and a net margin of 8.84%. The business earned $104.20 million during the quarter, compared to the consensus estimate of $107.75 million. During the same period last year, the company earned $0.12 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, equities research analysts anticipate that Investment Technology Group will post ($0.01) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 25th. Investment Technology Group’s dividend payout ratio (DPR) is 19.58%.

A number of institutional investors have recently made changes to their positions in ITG. Societe Generale purchased a new position in shares of Investment Technology Group during the second quarter worth approximately $347,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Investment Technology Group during the second quarter worth approximately $606,000. Bank of New York Mellon Corp boosted its position in shares of Investment Technology Group by 204.1% in the second quarter. Bank of New York Mellon Corp now owns 1,720,755 shares of the company’s stock worth $28,772,000 after buying an additional 1,154,918 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Investment Technology Group during the second quarter worth approximately $226,000. Finally, Boston Advisors LLC boosted its position in shares of Investment Technology Group by 0.5% in the second quarter. Boston Advisors LLC now owns 16,040 shares of the company’s stock worth $268,000 after buying an additional 80 shares during the period. Institutional investors own 89.09% of the company’s stock.

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Investment Technology Group Company Profile

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