IHS Markit (NASDAQ:INFO) Earns Buy Rating from Analysts at Canaccord Genuity

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Canaccord Genuity assumed coverage on shares of IHS Markit (NASDAQ:INFO) in a research report released on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $78.00 target price on the business services provider’s stock.

Several other research firms have also recently weighed in on INFO. Deutsche Bank lifted their target price on IHS Markit from $63.00 to $70.00 and gave the company a buy rating in a research note on Friday, June 28th. Piper Jaffray Companies lifted their target price on IHS Markit from $64.00 to $70.00 and gave the company an overweight rating in a research note on Thursday, June 27th. BMO Capital Markets lifted their target price on IHS Markit from $63.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, June 27th. Cantor Fitzgerald lifted their target price on IHS Markit from $51.00 to $59.00 and gave the company a neutral rating in a research note on Thursday, June 27th. Finally, BidaskClub cut IHS Markit from a strong-buy rating to a buy rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $63.36.

NASDAQ INFO opened at $67.86 on Thursday. The stock’s 50-day moving average price is $64.95 and its two-hundred day moving average price is $59.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.58. The company has a market cap of $27.22 billion, a PE ratio of 34.27, a PEG ratio of 2.83 and a beta of 0.82. IHS Markit has a 1 year low of $44.52 and a 1 year high of $68.88.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. IHS Markit had a return on equity of 10.13% and a net margin of 10.49%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. Research analysts forecast that IHS Markit will post 2.13 EPS for the current fiscal year.

In related news, EVP Adam Jason Kansler sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $65.09, for a total value of $9,763,500.00. Following the completion of the sale, the executive vice president now owns 269,467 shares of the company’s stock, valued at approximately $17,539,607.03. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sari Beth Granat sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $63.04, for a total value of $3,152,000.00. Following the completion of the sale, the executive vice president now directly owns 86,141 shares of the company’s stock, valued at approximately $5,430,328.64. The disclosure for this sale can be found here. In the last three months, insiders sold 300,483 shares of company stock valued at $19,436,699. 1.11% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its stake in shares of IHS Markit by 2,581.8% in the second quarter. Nuveen Asset Management LLC now owns 4,641,197 shares of the business services provider’s stock valued at $295,737,000 after purchasing an additional 4,468,132 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of IHS Markit by 381.1% in the second quarter. JPMorgan Chase & Co. now owns 3,717,941 shares of the business services provider’s stock valued at $234,601,000 after purchasing an additional 2,945,175 shares in the last quarter. Invesco Ltd. raised its stake in shares of IHS Markit by 42.5% in the second quarter. Invesco Ltd. now owns 6,093,263 shares of the business services provider’s stock valued at $388,262,000 after purchasing an additional 1,817,444 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of IHS Markit by 24.0% in the first quarter. Clearbridge Investments LLC now owns 8,222,320 shares of the business services provider’s stock valued at $447,130,000 after purchasing an additional 1,591,992 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in shares of IHS Markit in the first quarter valued at $52,411,000. 96.18% of the stock is owned by institutional investors and hedge funds.

About IHS Markit

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.

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Analyst Recommendations for IHS Markit (NASDAQ:INFO)

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