Zacks Investment Research lowered shares of IHS Markit (NASDAQ:INFO) from a buy rating to a hold rating in a research note published on Wednesday, March 21st.
According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “
A number of other equities research analysts have also recently issued reports on INFO. SunTrust Banks upgraded IHS Markit from a hold rating to a buy rating in a research note on Tuesday, November 28th. Royal Bank of Canada reiterated a buy rating and issued a $52.00 target price on shares of IHS Markit in a research note on Wednesday, December 20th. BidaskClub upgraded IHS Markit from a buy rating to a strong-buy rating in a research note on Thursday, January 11th. Stifel Nicolaus reiterated a hold rating on shares of IHS Markit in a research note on Tuesday, January 16th. Finally, BMO Capital Markets reiterated a buy rating and issued a $52.00 target price on shares of IHS Markit in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $52.31.
INFO traded up $0.36 during trading hours on Wednesday, hitting $48.71. 1,311,979 shares of the stock were exchanged, compared to its average volume of 2,199,980. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $18,971.44, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78. IHS Markit has a 12 month low of $42.07 and a 12 month high of $50.00.
IHS Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, March 27th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $932.10 million for the quarter, compared to analysts’ expectations of $906.91 million. IHS Markit had a return on equity of 9.33% and a net margin of 16.06%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. research analysts anticipate that IHS Markit will post 1.84 earnings per share for the current fiscal year.
In related news, CEO Lance Darrell Gordon Uggla sold 80,000 shares of IHS Markit stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $48.36, for a total transaction of $3,868,800.00. Following the transaction, the chief executive officer now directly owns 806,023 shares of the company’s stock, valued at $38,979,272.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ruann Faye Ernst sold 7,400 shares of IHS Markit stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $47.59, for a total value of $352,166.00. Following the transaction, the director now directly owns 69,312 shares in the company, valued at $3,298,558.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 355,962 shares of company stock worth $17,051,219. Company insiders own 2.68% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group acquired a new position in IHS Markit during the fourth quarter worth about $261,000. Xact Kapitalforvaltning AB increased its stake in IHS Markit by 4.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 79,356 shares of the business services provider’s stock worth $3,583,000 after purchasing an additional 3,630 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in IHS Markit by 1.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 134,621 shares of the business services provider’s stock worth $6,077,000 after purchasing an additional 2,251 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in IHS Markit by 10.7% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 233,192 shares of the business services provider’s stock worth $10,529,000 after purchasing an additional 22,465 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in IHS Markit by 56.4% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,179 shares of the business services provider’s stock worth $1,001,000 after purchasing an additional 8,000 shares in the last quarter. 97.13% of the stock is currently owned by hedge funds and other institutional investors.
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About IHS Markit
IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.
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