Louisiana State Employees Retirement System purchased a new position in IHS Markit Ltd. (NASDAQ:INFO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,700 shares of the business services provider’s stock, valued at approximately $868,000.
Other large investors have also modified their holdings of the company. Korea Investment CORP increased its stake in IHS Markit by 884.0% in the first quarter. Korea Investment CORP now owns 4,182 shares of the business services provider’s stock worth $175,000 after buying an additional 3,757 shares during the period. Mutual of America Capital Management LLC increased its stake in IHS Markit by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 4,175 shares of the business services provider’s stock worth $175,000 after buying an additional 695 shares during the period. Global X Management Co. LLC increased its stake in IHS Markit by 60.3% in the first quarter. Global X Management Co. LLC now owns 4,265 shares of the business services provider’s stock worth $179,000 after buying an additional 1,605 shares during the period. Private Advisor Group LLC purchased a new stake in IHS Markit during the first quarter worth approximately $214,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in IHS Markit during the first quarter worth approximately $221,000. Institutional investors and hedge funds own 99.03% of the company’s stock.
IHS Markit Ltd. (NASDAQ INFO) traded down 1.02% during mid-day trading on Friday, hitting $45.75. The stock had a trading volume of 5,187,763 shares. IHS Markit Ltd. has a 12-month low of $34.13 and a 12-month high of $47.92. The firm has a market cap of $18.29 billion, a P/E ratio of 84.57 and a beta of 0.88. The stock has a 50-day moving average price of $45.47 and a 200 day moving average price of $43.49.
IHS Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $906.10 million during the quarter, compared to analysts’ expectations of $897.80 million. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. IHS Markit’s quarterly revenue was up 54.1% compared to the same quarter last year. Equities analysts anticipate that IHS Markit Ltd. will post $2.06 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $41.00 target price on shares of IHS Markit in a report on Wednesday, April 26th. BMO Capital Markets lifted their target price on IHS Markit from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 target price (up previously from $40.00) on shares of IHS Markit in a report on Tuesday, July 18th. UBS AG reissued a “neutral” rating and issued a $47.00 price target (up from $43.00) on shares of IHS Markit in a report on Friday, June 30th. Finally, Stifel Nicolaus boosted their price target on IHS Markit from $38.00 to $43.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.00.
In related news, President Lance Darrell Gordon Uggla sold 112,162 shares of IHS Markit stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $47.27, for a total transaction of $5,301,897.74. Following the completion of the transaction, the president now directly owns 461,344 shares of the company’s stock, valued at $21,807,730.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Daniel Yergin sold 43,657 shares of IHS Markit stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $44.17, for a total value of $1,928,329.69. Following the transaction, the insider now directly owns 364,703 shares of the company’s stock, valued at $16,108,931.51. The disclosure for this sale can be found here. Insiders sold a total of 1,031,463 shares of company stock valued at $48,308,385 over the last three months.
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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