Capstone Asset Management Co. Buys New Stake in IHS Markit Ltd. (INFO)
Capstone Asset Management Co. bought a new position in shares of IHS Markit Ltd. (NASDAQ:INFO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,350 shares of the business services provider’s stock, valued at approximately $808,000.
A number of other hedge funds have also recently modified their holdings of the stock. Korea Investment CORP increased its position in IHS Markit by 884.0% in the first quarter. Korea Investment CORP now owns 4,182 shares of the business services provider’s stock worth $175,000 after buying an additional 3,757 shares during the period. Mutual of America Capital Management LLC increased its position in IHS Markit by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 4,175 shares of the business services provider’s stock worth $175,000 after buying an additional 695 shares during the period. Global X Management Co. LLC increased its position in IHS Markit by 60.3% in the first quarter. Global X Management Co. LLC now owns 4,265 shares of the business services provider’s stock worth $179,000 after buying an additional 1,605 shares during the period. Private Advisor Group LLC bought a new position in IHS Markit during the first quarter worth about $214,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in IHS Markit during the first quarter worth about $221,000. 99.03% of the stock is owned by institutional investors and hedge funds.
Shares of IHS Markit Ltd. (NASDAQ INFO) traded down 1.02% on Friday, reaching $45.75. 5,187,763 shares of the company traded hands. The stock has a 50-day moving average price of $45.47 and a 200 day moving average price of $43.49. The firm has a market capitalization of $18.29 billion, a P/E ratio of 84.57 and a beta of 0.88. IHS Markit Ltd. has a 1-year low of $34.13 and a 1-year high of $47.92.
IHS Markit (NASDAQ:INFO) last posted its quarterly earnings data on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. IHS Markit had a net margin of 6.66% and a return on equity of 7.33%. The firm had revenue of $906.10 million during the quarter, compared to analyst estimates of $897.80 million. The business’s revenue for the quarter was up 54.1% on a year-over-year basis. Analysts anticipate that IHS Markit Ltd. will post $2.06 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on INFO. UBS AG restated a “neutral” rating and issued a $47.00 target price (up previously from $43.00) on shares of IHS Markit in a research note on Friday, June 30th. Zacks Investment Research downgraded IHS Markit from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $50.00 target price (up previously from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. BMO Capital Markets upped their price objective on IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $41.00 price objective on shares of IHS Markit in a research note on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.00.
In other news, Vice Chairman Daniel Yergin sold 43,657 shares of the stock in a transaction dated Wednesday, July 5th. The shares were 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 $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 firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total transaction of $39,745,080.00. Following 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. Insiders have sold 1,031,463 shares of company stock worth $48,308,385 over the last three months.
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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