05:54:52 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Information Services Corp
Symbol ISV
Shares Issued 17,701,498
Close 2023-07-10 C$ 24.40
Market Cap C$ 431,916,551
Recent Sedar Documents

Globe says Information Services boosted to "outperform"

2023-07-10 08:06 ET - In the News

The Globe and Mail reports in its Friday, July 7, edition that Raymond James analyst Stephen Boland has upgraded Information Services to "outperform" from "market perform." The Globe's David Leeder writes that Mr. Boland gave his share target a $3 boost to $30. Analysts on average target the shares at $28.35. The company recently announced an extension of its Master Service Agreement with the Province of Saskatchewan to provide registry services. Under the new deal, Information Services will maintain exclusive rights to operate the Saskatchewan registries until at least 2053. Mr. Boland says in a note: "This is clearly a very positive development. ... While the current MSA wasn't scheduled to expire until 2033, there was always uncertainty as to what would happen after that date. While no RFP was held, we suspect there would have been a number of interested buyers for this asset. That said, ISV has operated the Registry very successfully for 20+ years and there was possibly unwillingness on the Crown's part to entrust the running of the business to another third party. Regardless, we believe the terms appear extremely fair to ISV and the stock should react very positively to this announcement."

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