Wells Fargo & Company Cuts IHS Markit Ltd. (INFO) Price Target to $50.00
IHS Markit Ltd. (NASDAQ:INFO) had its target price decreased by Wells Fargo & Company from $52.00 to $50.00 in a research note released on Wednesday morning. Wells Fargo & Company currently has an outperform rating on the business services provider’s stock.
A number of other research firms have also weighed in on INFO. Deutsche Bank AG reaffirmed a buy rating and issued a $52.00 price objective (up previously from $50.00) on shares of IHS Markit in a research note on Friday, June 16th. Zacks Investment Research lowered IHS Markit from a hold rating to a sell rating in a research note on Thursday, June 29th. BMO Capital Markets reaffirmed an outperform rating and issued a $50.00 price objective (down previously from $52.00) on shares of IHS Markit in a research note on Wednesday. Royal Bank Of Canada reaffirmed an outperform rating and issued a $50.00 price objective (up previously from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. Finally, UBS AG reiterated a neutral rating and issued a $47.00 target price (up from $43.00) on shares of IHS Markit in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $46.67.
IHS Markit (NASDAQ INFO) traded down 0.11% during mid-day trading on Wednesday, hitting $44.08. The company’s stock had a trading volume of 3,864,672 shares. IHS Markit has a 52-week low of $34.13 and a 52-week high of $48.53. The company’s 50 day moving average is $46.67 and its 200-day moving average is $44.61. The stock has a market cap of $17.53 billion, a P/E ratio of 46.30 and a beta of 0.88.
IHS Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The firm had revenue of $904.70 million during the quarter, compared to analyst estimates of $890.99 million. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities analysts predict that IHS Markit will post $2.06 EPS for the current fiscal year.
In other IHS Markit news, EVP Jonathan Gear sold 30,004 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $44.43, for a total transaction of $1,333,077.72. Following the sale, the executive vice president now directly owns 328,874 shares in the company, valued at $14,611,871.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Lance Darrell Gordon Uggla sold 845,640 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $39,745,080.00. Following the sale, the president now owns 1,177,904 shares in the company, valued at $55,361,488. The disclosure for this sale can be found here. Insiders sold 1,031,463 shares of company stock worth $48,308,385 over the last quarter.
A number of hedge funds have recently modified their holdings of the business. Sentry Investment Management LLC purchased a new stake in IHS Markit during the second quarter valued at approximately $1,201,000. Toronto Dominion Bank raised its position in IHS Markit by 871.8% during the second quarter. Toronto Dominion Bank now owns 116,072 shares of the business services provider’s stock valued at $5,111,000 after purchasing an additional 104,128 shares during the period. Public Employees Retirement System of Ohio raised its position in IHS Markit by 220.0% during the second quarter. Public Employees Retirement System of Ohio now owns 266,222 shares of the business services provider’s stock valued at $11,724,000 after purchasing an additional 183,019 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in IHS Markit during the second quarter valued at approximately $324,000. Finally, Nomura Holdings Inc. purchased a new stake in IHS Markit during the second quarter valued at approximately $1,059,000. Institutional investors and hedge funds own 96.03% of the company’s stock.
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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