Retirement Systems of Alabama Purchases Shares of 153,875 IHS Markit Ltd. (INFO)
Retirement Systems of Alabama purchased a new position in IHS Markit Ltd. (NASDAQ:INFO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 153,875 shares of the business services provider’s stock, valued at approximately $6,777,000.
Other institutional investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC purchased a new stake in shares of IHS Markit during the fourth quarter worth about $273,000. DnB Asset Management AS increased its stake in IHS Markit by 23.4% in the first quarter. DnB Asset Management AS now owns 32,720 shares of the business services provider’s stock worth $1,373,000 after buying an additional 6,200 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in IHS Markit by 57.5% in the first quarter. Conestoga Capital Advisors LLC now owns 55,080 shares of the business services provider’s stock worth $2,311,000 after buying an additional 20,117 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in IHS Markit during the first quarter worth $373,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in IHS Markit during the first quarter worth $1,170,000. 99.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of IHS Markit Ltd. (NASDAQ INFO) opened at 46.39 on Wednesday. The firm has a 50-day moving average price of $45.35 and a 200 day moving average price of $43.40. IHS Markit Ltd. has a 52 week low of $34.13 and a 52 week high of $47.92. The stock has a market cap of $18.54 billion, a price-to-earnings ratio of 85.75 and a beta of 0.88.
IHS Markit (NASDAQ:INFO) last released its earnings results on Tuesday, June 27th. The business services provider reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm had revenue of $906.10 million for the quarter, compared to the consensus estimate of $897.80 million. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The business’s quarterly revenue was up 54.1% on a year-over-year basis. On average, analysts forecast that IHS Markit Ltd. will post $2.06 EPS for the current fiscal year.
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A number of research firms have recently weighed in on INFO. UBS AG restated a “neutral” rating and issued a $47.00 price target (up from $43.00) on shares of IHS Markit in a research note on Friday, June 30th. Zacks Investment Research lowered shares of IHS Markit from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Royal Bank Of Canada restated an “outperform” rating and set a $50.00 price target (up previously from $48.00) on shares of IHS Markit in a report on Wednesday, June 28th. BMO Capital Markets raised their price target on shares of IHS Markit from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $41.00 price target on shares of IHS Markit in a report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued 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 IHS Markit news, Vice Chairman Daniel Yergin sold 43,657 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $44.17, for a total value of $1,928,329.69. Following the completion of the sale, the insider now directly owns 364,703 shares in the company, valued at approximately $16,108,931.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Lance Darrell Gordon Uggla sold 845,640 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total value of $39,745,080.00. Following the completion of the sale, the president now owns 1,177,904 shares of the company’s stock, valued at $55,361,488. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,031,463 shares of company stock valued at $48,308,385.
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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