IHS Markit Ltd. (NASDAQ:INFO) had its price target lowered by equities research analysts at BMO Capital Markets from $52.00 to $50.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 3.48% from the company’s current price.
INFO has been the subject of several other research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $52.00 price objective (up previously from $50.00) on shares of IHS Markit in a research report on Friday, June 16th. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price objective (up previously from $40.00) on shares of IHS Markit in a research report on Tuesday, July 18th. Zacks Investment Research cut IHS Markit from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $48.00) on shares of IHS Markit in a research report on Wednesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $45.00 price objective on shares of IHS Markit in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.00.
IHS Markit (NASDAQ:INFO) traded up 0.07% during trading on Wednesday, hitting $44.15. 908,533 shares of the stock traded hands. IHS Markit has a 12 month low of $34.13 and a 12 month high of $48.53. The firm’s 50-day moving average is $46.67 and its 200-day moving average is $44.61. The stock has a market cap of $17.65 billion, a P/E ratio of 81.61 and a beta of 0.88.
IHS Markit (NASDAQ:INFO) last issued its quarterly earnings results on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The firm had revenue of $904.70 million during the quarter, compared to the consensus estimate of $890.99 million. During the same period last year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts forecast that IHS Markit will post $2.06 EPS for the current year.
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In other news, President Lance Darrell Gordon Uggla sold 112,162 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $47.27, for a total value of $5,301,897.74. Following the completion of the transaction, the president now owns 461,344 shares in the company, valued at $21,807,730.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $44.17, for a total value of $1,928,329.69. Following the completion of the transaction, the insider now owns 364,703 shares of the company’s stock, valued at approximately $16,108,931.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,031,463 shares of company stock valued at $48,308,385.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in IHS Markit by 104.2% during the 2nd quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock worth $914,415,000 after purchasing an additional 10,593,627 shares in the last quarter. State Street Corp increased its position in IHS Markit by 269.2% during the 2nd quarter. State Street Corp now owns 14,324,138 shares of the business services provider’s stock worth $630,974,000 after purchasing an additional 10,443,873 shares in the last quarter. Vanguard Group Inc. increased its position in IHS Markit by 23.1% during the 2nd quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock worth $1,449,201,000 after purchasing an additional 6,171,840 shares in the last quarter. FMR LLC increased its position in IHS Markit by 58.4% during the 1st quarter. FMR LLC now owns 14,521,091 shares of the business services provider’s stock worth $609,160,000 after purchasing an additional 5,352,565 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in IHS Markit by 8,621.2% during the 2nd quarter. Janus Henderson Group PLC now owns 4,084,667 shares of the business services provider’s stock worth $179,889,000 after purchasing an additional 4,037,831 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
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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