Royce & Associates LP Increases Position in IHS Markit Ltd. (INFO)
Royce & Associates LP increased its position in IHS Markit Ltd. (NASDAQ:INFO) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,468 shares of the business services provider’s stock after purchasing an additional 2,600 shares during the quarter. Royce & Associates LP’s holdings in IHS Markit were worth $4,381,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Dupont Capital Management Corp bought a new position in IHS Markit during the second quarter worth about $120,000. Mutual of America Capital Management LLC boosted its holdings in IHS Markit by 20.0% during 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 last quarter. Global X Management Co. LLC boosted its holdings in IHS Markit by 60.3% during 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 last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in IHS Markit during the second quarter worth about $207,000. Finally, Private Advisor Group LLC bought a new position in IHS Markit during the first quarter worth about $214,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.
IHS Markit Ltd. (INFO) opened at 47.53 on Friday. The company has a market cap of $19.00 billion, a PE ratio of 87.86 and a beta of 0.88. IHS Markit Ltd. has a 12-month low of $34.13 and a 12-month high of $47.92. The stock’s 50 day moving average price is $46.35 and its 200 day moving average price is $44.19.
IHS Markit (NASDAQ:INFO) last released its earnings results 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 return on equity of 7.33% and a net margin of 6.66%. The business had revenue of $906.10 million during the quarter, compared to analysts’ expectations of $897.80 million. The business’s quarterly revenue was up 54.1% compared to the same quarter last year. Equities research analysts anticipate that IHS Markit Ltd. will post $2.06 EPS for the current year.
A number of equities analysts have issued reports on the company. UBS AG restated a “neutral” rating and set a $47.00 target price (up previously from $43.00) on shares of IHS Markit in a report on Friday, June 30th. Zacks Investment Research upgraded IHS Markit from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Royal Bank Of Canada restated an “outperform” rating and set a $50.00 target price (up previously from $48.00) on shares of IHS Markit in a report on Wednesday, June 28th. BMO Capital Markets raised their target price on IHS Markit from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. Finally, Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up previously from $40.00) on shares of IHS Markit in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $45.55.
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In related news, President Lance Darrell Gordon Uggla sold 845,640 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the president now owns 1,177,904 shares of the company’s stock, valued at $55,361,488. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 364,703 shares of the company’s stock, valued at approximately $16,108,931.51. The disclosure for this sale can be found here. Insiders have sold 1,031,463 shares of company stock valued at $48,308,385 in the last ninety days.
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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