Investment Technology Group, Inc. (NYSE:ITG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $25.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.05% from the company’s previous close.

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. “

Separately, ValuEngine upgraded shares of Investment Technology Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Investment Technology Group presently has an average rating of “Buy” and a consensus target price of $20.67.

Shares of Investment Technology Group (NYSE ITG) traded up 0.84% during trading on Monday, reaching $21.73. The company had a trading volume of 102,973 shares. The stock’s market capitalization is $720.26 million. The company’s 50 day moving average is $20.77 and its 200-day moving average is $20.30. Investment Technology Group has a 1-year low of $15.04 and a 1-year high of $22.42.

Investment Technology Group (NYSE:ITG) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $120.80 million during the quarter, compared to the consensus estimate of $120.10 million. Investment Technology Group had a negative net margin of 3.89% and a positive return on equity of 1.73%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts anticipate that Investment Technology Group will post $0.73 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Investment Technology Group by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 6,188 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,698 shares during the period. Mason Street Advisors LLC increased its position in shares of Investment Technology Group by 9.2% in the first quarter. Mason Street Advisors LLC now owns 7,384 shares of the financial services provider’s stock worth $150,000 after buying an additional 623 shares during the period. Tudor Investment Corp Et Al purchased a new position in shares of Investment Technology Group during the fourth quarter worth $209,000. SG Americas Securities LLC increased its position in shares of Investment Technology Group by 8.6% in the first quarter. SG Americas Securities LLC now owns 11,308 shares of the financial services provider’s stock worth $229,000 after buying an additional 893 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Investment Technology Group by 4.0% in the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the financial services provider’s stock worth $261,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 87.11% of the company’s stock.

Investment Technology Group Company Profile

Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.

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