Cibc World Markets Corp Acquires New Holdings in IHS Markit Ltd. (INFO)
Cibc World Markets Corp acquired a new position in IHS Markit Ltd. (NASDAQ:INFO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,853 shares of the business services provider’s stock, valued at approximately $1,975,000.
Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in IHS Markit by 104.2% during the second quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock valued at $914,415,000 after acquiring an additional 10,593,627 shares during the period. Vanguard Group Inc. boosted its holdings in IHS Markit by 23.1% during the second quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock valued at $1,449,201,000 after acquiring an additional 6,171,840 shares during the period. FMR LLC boosted its holdings in IHS Markit by 20.6% during the second quarter. FMR LLC now owns 17,512,617 shares of the business services provider’s stock valued at $771,256,000 after acquiring an additional 2,991,526 shares during the period. BT Investment Management Ltd bought a new stake in IHS Markit during the second quarter valued at about $101,148,000. Finally, Northern Trust Corp boosted its holdings in IHS Markit by 139.8% during the second quarter. Northern Trust Corp now owns 3,592,776 shares of the business services provider’s stock valued at $158,225,000 after acquiring an additional 2,094,761 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.
IHS Markit Ltd. (INFO) opened at 44.08 on Friday. The company has a 50-day moving average of $46.67 and a 200 day moving average of $44.61. IHS Markit Ltd. has a 52-week low of $34.13 and a 52-week high of $48.53. The firm has a market cap of $17.53 billion, a price-to-earnings 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The business had revenue of $904.70 million during the quarter, compared to analysts’ expectations of $890.99 million. IHS Markit had a net margin of 11.35% and a return on equity of 8.79%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, equities research analysts anticipate that IHS Markit Ltd. will post $2.06 EPS for the current year.
A number of research firms have issued reports on INFO. UBS AG restated a “neutral” rating and set a $47.00 price target (up from $43.00) on shares of IHS Markit in a report on Friday, June 30th. Morgan Stanley decreased their price target on shares of IHS Markit from $41.00 to $40.00 and set an “underweight” rating for the company in a report on Wednesday. Zacks Investment Research cut shares of IHS Markit from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank Of Canada decreased their price target on shares of IHS Markit from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of IHS Markit from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.67.
In related news, 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 transaction of $39,745,080.00. Following the completion of the transaction, the president now directly owns 1,177,904 shares in the company, valued at approximately $55,361,488. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the company’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 transaction of $1,928,329.69. Following the transaction, the insider now owns 364,703 shares of the company’s stock, valued at $16,108,931.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,031,463 shares of company stock valued at $48,308,385.
IHS Markit 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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