IHS Markit (NASDAQ:INFO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, January 16th. The firm currently has a $53.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 19.61% from the stock’s current price.
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. “
Several other brokerages also recently issued reports on INFO. Royal Bank of Canada reiterated a “buy” rating and set a $52.00 price target on shares of IHS Markit in a research report on Wednesday, December 20th. UBS Group reduced their price target on shares of IHS Markit from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, November 17th. William Blair downgraded shares of IHS Markit from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 15th. SunTrust Banks upped their target price on shares of IHS Markit to $48.00 and gave the company a “hold” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group began coverage on shares of IHS Markit in a research report on Wednesday, November 8th. They set a “buy” rating and a $55.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.14.
IHS Markit (NASDAQ:INFO) last announced its quarterly earnings results on Tuesday, January 16th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.10. The firm had revenue of $944.70 million for the quarter, compared to analyst estimates of $912.65 million. IHS Markit had a net margin of 11.58% and a return on equity of 8.98%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. equities research analysts anticipate that IHS Markit will post 1.84 EPS for the current year.
In other news, CFO Todd S. Hyatt sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $47.40, for a total transaction of $1,185,000.00. Following the completion of the transaction, the chief financial officer now directly owns 415,128 shares of the company’s stock, valued at approximately $19,677,067.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael M. Easton sold 12,167 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $47.46, for a total transaction of $577,445.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,562 shares of company stock valued at $9,923,853.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of IHS Markit by 23.1% in the 2nd quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock valued at $1,449,201,000 after buying an additional 6,171,840 shares during the last quarter. BlackRock Inc. lifted its holdings in IHS Markit by 2.3% during the 4th quarter. BlackRock Inc. now owns 23,036,135 shares of the business services provider’s stock valued at $1,040,081,000 after purchasing an additional 512,484 shares during the last quarter. FMR LLC lifted its holdings in IHS Markit by 20.6% during the 2nd quarter. FMR LLC now owns 17,512,617 shares of the business services provider’s stock valued at $771,256,000 after purchasing an additional 2,991,526 shares during the last quarter. Edgewood Management LLC lifted its holdings in IHS Markit by 0.9% during the 3rd quarter. Edgewood Management LLC now owns 17,088,421 shares of the business services provider’s stock valued at $753,258,000 after purchasing an additional 158,338 shares during the last quarter. Finally, State Street Corp lifted its holdings 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 valued at $630,974,000 after purchasing an additional 10,443,873 shares during the last quarter. 99.23% of the stock is owned by 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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