State Treasurer State of Michigan boosted its stake in IHS Markit Ltd (NASDAQ:INFO) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,700 shares of the business services provider’s stock after acquiring an additional 2,000 shares during the period. State Treasurer State of Michigan’s holdings in IHS Markit were worth $5,694,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of INFO. Lunia Capital LP increased its position in IHS Markit by 5,785.0% in the 4th quarter. Lunia Capital LP now owns 12,980,059 shares of the business services provider’s stock valued at $12,980,000 after acquiring an additional 12,759,498 shares during the period. Canada Pension Plan Investment Board increased its position in IHS Markit by 21.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 22,031,949 shares of the business services provider’s stock worth $1,056,784,000 after purchasing an additional 3,927,202 shares during the period. Norges Bank acquired a new position in IHS Markit during the 4th quarter worth approximately $164,394,000. Oregon Public Employees Retirement Fund increased its position in IHS Markit by 4,638.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,860,373 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,821,111 shares during the period. Finally, Bank of America Corp DE increased its position in IHS Markit by 60.2% during the 4th quarter. Bank of America Corp DE now owns 4,814,676 shares of the business services provider’s stock worth $230,961,000 after purchasing an additional 1,808,786 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Several equities analysts have issued reports on the company. BidaskClub upgraded IHS Markit from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded IHS Markit from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, March 20th. Piper Jaffray Companies boosted their target price on IHS Markit from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. UBS Group boosted their price target on IHS Markit from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 12th. Finally, Morgan Stanley boosted their price target on IHS Markit from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. IHS Markit has an average rating of “Buy” and an average target price of $58.86.
INFO stock opened at $56.14 on Thursday. IHS Markit Ltd has a 1 year low of $44.52 and a 1 year high of $57.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $21.84 billion, a P/E ratio of 28.35, a P/E/G ratio of 2.41 and a beta of 0.83.
IHS Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, March 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. IHS Markit had a return on equity of 9.80% and a net margin of 9.96%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $0.53 EPS. IHS Markit’s revenue was up 12.3% on a year-over-year basis. Analysts expect that IHS Markit Ltd will post 2.12 earnings per share for the current year.
In other IHS Markit news, CEO Lance Darrell Gordon Uggla sold 30,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.50, for a total transaction of $1,635,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Todd S. Hyatt sold 40,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $56.24, for a total value of $2,249,600.00. Following the transaction, the chief financial officer now directly owns 243,083 shares in the company, valued at approximately $13,670,987.92. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.
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IHS Markit Company Profile
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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