Williams Jones & Associates LLC Buys New Holdings in IHS Markit Ltd (NASDAQ:INFO)

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Williams Jones & Associates LLC bought a new position in IHS Markit Ltd (NASDAQ:INFO) during the 1st quarter, Holdings Channel reports. The fund bought 3,765 shares of the business services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently modified their holdings of the company. Burney Co. boosted its position in shares of IHS Markit by 434.9% during the first quarter. Burney Co. now owns 30,901 shares of the business services provider’s stock valued at $1,680,000 after buying an additional 25,124 shares during the period. TCW Group Inc. boosted its position in shares of IHS Markit by 8.6% during the first quarter. TCW Group Inc. now owns 1,453,771 shares of the business services provider’s stock valued at $79,056,000 after buying an additional 115,255 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of IHS Markit by 34.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 501,067 shares of the business services provider’s stock valued at $27,248,000 after buying an additional 128,158 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of IHS Markit by 8.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,767,354 shares of the business services provider’s stock valued at $96,109,000 after buying an additional 135,148 shares during the period. Finally, Banco Santander S.A. purchased a new position in shares of IHS Markit during the first quarter valued at approximately $13,323,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of IHS Markit stock traded up $0.08 on Friday, hitting $59.34. 24,524 shares of the company traded hands, compared to its average volume of 1,474,630. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 0.64. IHS Markit Ltd has a 52 week low of $44.52 and a 52 week high of $61.05. The company has a market capitalization of $23.77 billion, a PE ratio of 30.02, a P/E/G ratio of 2.62 and a beta of 0.78.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.15. IHS Markit had a net margin of 9.96% and a return on equity of 9.80%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that IHS Markit Ltd will post 2.12 earnings per share for the current year.

In other news, CEO Lance Darrell Gordon Uggla sold 30,000 shares of IHS Markit stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.50, for a total transaction of $1,635,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd S. Hyatt sold 40,000 shares of IHS Markit stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $56.24, for a total transaction of $2,249,600.00. Following the sale, the chief financial officer now directly owns 243,083 shares of the company’s stock, valued at approximately $13,670,987.92. The disclosure for this sale can be found here. Insiders own 2.68% of the company’s stock.

Several research analysts have issued reports on INFO shares. Zacks Investment Research upgraded IHS Markit from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Wednesday, March 20th. BidaskClub upgraded IHS Markit from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. UBS Group boosted their target price on IHS Markit from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday, March 12th. Piper Jaffray Companies boosted their target price on IHS Markit from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley boosted their target price on IHS Markit from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.77.

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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.

Featured Story: Return on Investment (ROI)

Want to see what other hedge funds are holding INFO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IHS Markit Ltd (NASDAQ:INFO).

Institutional Ownership by Quarter for IHS Markit (NASDAQ:INFO)

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