|Over a month ago|
Information Services price target raised to C$27 from C$23 at RBC Capital » 11:5105/0705/07/21
RBC Capital analyst Paul…
RBC Capital analyst Paul Treiber raised the firm's price target on Information Services to C$27 from C$23 and keeps a Sector Perform rating on the shares.
Information Services price target raised to C$33 from C$32.50 at CIBC » 11:3505/0705/07/21
CIBC analyst Stephanie…
CIBC analyst Stephanie Price raised the firm's price target on Information Services to C$33 from C$32.50 and keeps an Outperformer rating on the shares.
Information Services upgraded to Outperformer from Neutral at CIBC » 06:0205/0305/03/21
CIBC analyst Stephanie…
CIBC analyst Stephanie Price upgraded Information Services to Outperformer from Neutral with a price target of C$32.50, up from C$25. The company has a stable core business with upside potential from a recovery in the Saskatchewan housing market and from other land registry opportunities, Price tells investors in a research note. The analyst views Information Services as attractively valued and sees potential for the company to become an acquisition target.
|Over a quarter ago|
Information Services, SGEU ratify new collective agreement » 08:1101/2701/27/21
Information Services Corporation announced that further to its news release on December 2, 2020, the membership of SGEU Local 2214 has ratified a new collective agreement with respect to ISC's in-scope employees. The previous collective agreement expired on September 30, 2019. The new six-year agreement, ending September 30, 2025, includes annual wage increases effective October 1 of each year, consisting of 0 per cent for 2019, 1.25 per cent retroactive to 2020, 1.50 per cent in 2021, 1.75 per cent in 2022 and two per cent in 2023 and 2024, respectively.
Information Services to acquire Paragon for C$70M » 08:3107/2907/29/20
Information Services announced that its Services segment, through its wholly-owned subsidiary, ESC Corporate Services has executed a purchase agreement to acquire substantially all of the assets used in the business of Paragon for C$70M, subject to customary purchase price adjustments. Paragon is a technology enabled company whose primary focus is the facilitation and coordination of asset recovery on behalf of many of Canada's regulated major banks. Asset recovery comprises the identification, retrieval and disposition of movable assets such as automobiles, boats, aircraft and other forms of portable physical assets used as collateral security for primarily consumer focused credit transactions. The addition of Paragon's assets is expected to strengthen ESC's current offering and means that ESC will be able to offer its clients a complete solution in the credit life cycle, from origination to recovery. This acquisition is consistent with ISC's long-term strategy of acquiring companies with competencies or operations in its industry space. The Company's Services segment is positioned to support the growing needs of financial institutions and legal firms to outsource key business processes associated with credit due diligence, protection and asset recovery solutions while they focus on their core businesses. Subject to certain customary closing conditions, the transaction is expected to close on or about July 31, 2020. The C$70M purchase price will be paid in cash drawing upon ISC's credit facility. While management is satisfied with its ability to continue to fund operations through operating cash flow, the Company is working with its banking partners to increase the current credit facility. ISC has already agreed on key parameters with its lead bank and is working with a syndicate to finalize changes to the existing credit facilities.