IHS Markit (INFO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of IHS Markit (NASDAQ:INFO) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “

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Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a buy rating and set a $52.00 price target on shares of IHS Markit in a research report on Wednesday, December 20th. SunTrust Banks raised shares of IHS Markit from a hold rating to a buy rating in a research report on Tuesday, November 28th. BidaskClub cut shares of IHS Markit from a strong-buy rating to a buy rating in a research report on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a buy rating and set a $54.00 price target on shares of IHS Markit in a research report on Wednesday, January 17th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $52.00 price target on shares of IHS Markit in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $49.43.

Shares of INFO stock opened at $46.87 on Wednesday. The firm has a market capitalization of $19,083.78, a price-to-earnings ratio of 46.41, a P/E/G ratio of 2.22 and a beta of 0.82. IHS Markit has a 1-year low of $39.40 and a 1-year high of $49.49. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings data on Tuesday, January 16th. The business services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.10. The business had revenue of $944.70 million during the quarter, compared to the consensus estimate of $912.65 million. IHS Markit had a return on equity of 8.98% and a net margin of 11.58%. IHS Markit’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. equities analysts anticipate that IHS Markit will post 1.85 EPS for the current fiscal year.

In other news, Vice Chairman Daniel Yergin sold 66,871 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $47.46, for a total transaction of $3,173,697.66. Following the transaction, the insider now owns 338,776 shares of the company’s stock, valued at approximately $16,078,308.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd S. Hyatt sold 25,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $47.40, for a total transaction of $1,185,000.00. Following the transaction, the chief financial officer now directly owns 415,128 shares in the company, valued at approximately $19,677,067.20. The disclosure for this sale can be found here. Insiders have sold a total of 208,562 shares of company stock worth $9,923,853 in the last three months. Insiders own 2.68% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in INFO. BT Investment Management Ltd boosted its position in shares of IHS Markit by 19.6% during the 4th quarter. BT Investment Management Ltd now owns 7,039,476 shares of the business services provider’s stock worth $317,832,000 after purchasing an additional 1,152,197 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of IHS Markit by 33.0% during the 4th quarter. Farallon Capital Management LLC now owns 4,217,914 shares of the business services provider’s stock worth $190,439,000 after purchasing an additional 1,047,215 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its position in shares of IHS Markit by 105.5% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 2,015,218 shares of the business services provider’s stock worth $90,987,000 after purchasing an additional 1,034,553 shares in the last quarter. Atlantic Trust Group LLC boosted its position in shares of IHS Markit by 458.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,141,009 shares of the business services provider’s stock worth $50,295,000 after purchasing an additional 936,666 shares in the last quarter. Finally, Sunriver Management LLC bought a new position in shares of IHS Markit during the 4th quarter worth about $40,253,000. 97.13% of the stock is currently owned by institutional investors.

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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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