State Treasurer State of Michigan Takes Position in IHS Markit Ltd. (INFO)

State Treasurer State of Michigan bought a new position in shares of IHS Markit Ltd. (NASDAQ:INFO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,300 shares of the business services provider’s stock, valued at approximately $4,593,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of IHS Markit by 1.6% in the first quarter. Vanguard Group Inc. now owns 26,734,655 shares of the business services provider’s stock worth $1,121,519,000 after buying an additional 408,185 shares during the period. Edgewood Management LLC raised its stake in shares of IHS Markit by 2.6% in the first quarter. Edgewood Management LLC now owns 16,283,098 shares of the business services provider’s stock worth $683,076,000 after buying an additional 405,039 shares during the period. FMR LLC raised its stake in shares of IHS Markit by 58.4% in the first quarter. FMR LLC now owns 14,521,091 shares of the business services provider’s stock worth $609,160,000 after buying an additional 5,352,565 shares during the period. BlackRock Inc. raised its stake in shares of IHS Markit by 2,428.1% in the first quarter. BlackRock Inc. now owns 10,169,681 shares of the business services provider’s stock worth $426,616,000 after buying an additional 9,767,408 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of IHS Markit by 81.5% in the first quarter. Principal Financial Group Inc. now owns 5,911,921 shares of the business services provider’s stock worth $248,005,000 after buying an additional 2,654,794 shares during the period. 99.03% of the stock is owned by institutional investors and hedge funds.

Shares of IHS Markit Ltd. (NASDAQ INFO) traded down 1.02% on Friday, reaching $45.75. The company 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 capitalization of $18.29 billion, a PE ratio of 84.57 and a beta of 0.88. The firm’s 50 day moving average is $45.47 and its 200 day moving average is $43.49.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, June 27th. The business services provider reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The company had revenue of $906.10 million for the quarter, compared to analyst estimates of $897.80 million. The business’s quarterly revenue was up 54.1% compared to the same quarter last year. On average, equities research analysts expect that IHS Markit Ltd. will post $2.06 earnings per share for the current fiscal year.

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A number of brokerages have recently issued reports on INFO. UBS AG reiterated 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 price target (up from $48.00) on shares of IHS Markit in a report on Wednesday, June 28th. BMO Capital Markets lifted their price target on IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Stifel Nicolaus lifted 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. Finally, Zacks Investment Research downgraded IHS Markit from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. IHS Markit currently has an average rating of “Hold” and an average price target of $45.00.

In other news, EVP Jonathan Gear sold 30,004 shares of IHS Markit stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $44.43, for a total transaction of $1,333,077.72. Following the completion of the sale, the executive vice president now directly owns 328,874 shares in the company, valued at approximately $14,611,871.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Daniel Yergin sold 43,657 shares of IHS Markit stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $44.17, for a total transaction of $1,928,329.69. Following the sale, the insider now 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 worth $48,308,385 in the last ninety days.

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.

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

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