IHS Markit (NASDAQ:INFO) Downgraded by BidaskClub

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BidaskClub downgraded shares of IHS Markit (NASDAQ:INFO) from a strong-buy rating to a buy rating in a research report released on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on the company. Piper Jaffray Companies upped their price objective on IHS Markit from $64.00 to $70.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. BMO Capital Markets increased their price target on IHS Markit from $63.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, June 27th. Deutsche Bank increased their price target on IHS Markit from $63.00 to $70.00 and gave the company a buy rating in a research note on Friday, June 28th. SunTrust Banks increased their price target on IHS Markit from $62.00 to $70.00 and gave the company a buy rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research upgraded IHS Markit from a hold rating to a buy rating and set a $67.00 price target on the stock in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $63.36.

Shares of IHS Markit stock opened at $67.86 on Thursday. IHS Markit has a 12-month low of $44.52 and a 12-month high of $68.88. The stock has a market cap of $27.22 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.83 and a beta of 0.82. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $64.95 and its 200-day moving average is $59.60.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. IHS Markit had a return on equity of 10.13% and a net margin of 10.49%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts expect that IHS Markit will post 2.13 EPS for the current year.

In other IHS Markit news, EVP Adam Jason Kansler sold 50,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $65.53, for a total value of $3,276,500.00. Following the transaction, the executive vice president now directly owns 169,467 shares of the company’s stock, valued at approximately $11,105,172.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Todd S. Hyatt sold 25,483 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $63.56, for a total value of $1,619,699.48. Following the completion of the transaction, the chief financial officer now directly owns 217,600 shares in the company, valued at $13,830,656. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,483 shares of company stock worth $19,436,699. Insiders own 1.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Securities Inc. acquired a new stake in shares of IHS Markit during the 4th quarter worth $315,000. Geode Capital Management LLC grew its holdings in shares of IHS Markit by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 4,917,673 shares of the business services provider’s stock worth $235,497,000 after purchasing an additional 376,102 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of IHS Markit by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 168,650 shares of the business services provider’s stock worth $8,090,000 after purchasing an additional 6,628 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of IHS Markit by 29.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,528 shares of the business services provider’s stock worth $355,000 after purchasing an additional 1,481 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in shares of IHS Markit by 52.9% during the 1st quarter. First Republic Investment Management Inc. now owns 9,866 shares of the business services provider’s stock worth $537,000 after purchasing an additional 3,415 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

IHS Markit Company Profile

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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

Analyst Recommendations for IHS Markit (NASDAQ:INFO)

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