State Street Corp grew its position in IHS Markit Ltd. (NASDAQ:INFO) by 269.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,324,138 shares of the business services provider’s stock after purchasing an additional 10,443,873 shares during the quarter. State Street Corp owned about 3.59% of IHS Markit worth $630,974,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in IHS Markit by 23.1% in the second quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock worth $1,449,201,000 after purchasing an additional 6,171,840 shares during the last quarter. BlackRock Inc. grew its holdings in shares of IHS Markit by 104.2% during the second quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock valued at $914,415,000 after buying an additional 10,593,627 shares during the last quarter. FMR LLC grew its holdings in shares of IHS Markit by 20.6% during the second quarter. FMR LLC now owns 17,512,617 shares of the business services provider’s stock valued at $771,256,000 after buying an additional 2,991,526 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of IHS Markit by 26.1% during the second quarter. Principal Financial Group Inc. now owns 7,454,101 shares of the business services provider’s stock valued at $328,279,000 after buying an additional 1,542,180 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of IHS Markit by 1.0% during the second quarter. Mawer Investment Management Ltd. now owns 5,803,478 shares of the business services provider’s stock valued at $255,585,000 after buying an additional 55,719 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.
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IHS Markit Ltd. (INFO) opened at 44.14 on Wednesday. The firm has a 50 day moving average of $46.27 and a 200-day moving average of $45.13. IHS Markit Ltd. has a 12 month low of $34.13 and a 12 month high of $48.53. The firm has a market cap of $17.55 billion, a P/E ratio of 46.37 and a beta of 0.84.
IHS Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The business had revenue of $904.70 million for the quarter, compared to the consensus estimate of $890.99 million. IHS Markit had a net margin of 11.35% and a return on equity of 8.79%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that IHS Markit Ltd. will post $2.05 earnings per share for the current year.
In other news, EVP Jonathan Gear sold 30,004 shares of IHS Markit stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $44.43, for a total value of $1,333,077.72. Following the sale, the executive vice president now owns 328,874 shares of the company’s stock, valued at $14,611,871.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd S. Hyatt sold 20,000 shares of IHS Markit stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $44.20, for a total transaction of $884,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 895,644 shares of company stock worth $41,962,158.
A number of equities research analysts have recently weighed in on INFO shares. Deutsche Bank AG reissued a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of IHS Markit in a report on Friday, June 16th. Morgan Stanley reissued an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of IHS Markit in a report on Tuesday, July 18th. BMO Capital Markets boosted their price objective on shares of IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 price objective (up from $48.00) on shares of IHS Markit in a report on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of IHS Markit from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.00.
IHS Markit Company Profile
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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