BMO Capital Markets Raises IHS Markit (NYSE:INFO) Price Target to $110.00

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IHS Markit (NYSE:INFO) had its price objective boosted by BMO Capital Markets from $96.00 to $110.00 in a report released on Wednesday morning, The Fly reports. They currently have a market perform rating on the business services provider’s stock.

Separately, Morgan Stanley upped their target price on IHS Markit from $116.00 to $120.00 and gave the company an overweight rating in a report on Monday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. IHS Markit currently has an average rating of Buy and an average target price of $88.36.

Shares of IHS Markit stock opened at $103.94 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.62 and a quick ratio of 0.67. IHS Markit has a 1 year low of $62.20 and a 1 year high of $103.73. The firm’s 50-day moving average is $96.19 and its two-hundred day moving average is $89.74. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 47.90 and a beta of 1.05.

IHS Markit (NYSE:INFO) last released its quarterly earnings results on Monday, March 22nd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. IHS Markit had a net margin of 20.31% and a return on equity of 11.03%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities analysts expect that IHS Markit will post 2.64 earnings per share for the current year.

In other news, CFO Jonathan Gear sold 4,000 shares of the stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $87.50, for a total value of $350,000.00. Following the transaction, the chief financial officer now owns 113,218 shares of the company’s stock, valued at approximately $9,906,575. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael M. Easton sold 11,605 shares of the stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $90.17, for a total value of $1,046,422.85. Insiders have sold 131,977 shares of company stock worth $12,055,914 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC bought a new position in IHS Markit in the fourth quarter valued at approximately $26,000. Wolff Wiese Magana LLC bought a new stake in shares of IHS Markit during the fourth quarter worth about $28,000. CVA Family Office LLC bought a new stake in IHS Markit in the 1st quarter worth about $30,000. Manchester Financial Inc. lifted its stake in IHS Markit by 108.8% in the 4th quarter. Manchester Financial Inc. now owns 357 shares of the business services provider’s stock worth $32,000 after purchasing an additional 186 shares in the last quarter. Finally, Pinnacle Bank grew its holdings in IHS Markit by 48.8% in the 4th quarter. Pinnacle Bank now owns 442 shares of the business services provider’s stock worth $40,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.

IHS Markit Company Profile

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government. Its Financial Services segment offers pricing and reference data, indices, valuation and trading services, trade processing, enterprise software, and managed services to traders, portfolio managers, risk managers, research professionals, and other financial market participants, as well as operations, compliance, and enterprise data managers.

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