State Board of Administration of Florida Retirement System increased its position in IHS Markit Ltd (NASDAQ:INFO) by 25.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,460 shares of the business services provider’s stock after buying an additional 5,700 shares during the period. State Board of Administration of Florida Retirement System’s holdings in IHS Markit were worth $1,008,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new stake in IHS Markit during the third quarter valued at $551,000. Integrated Investment Consultants LLC acquired a new stake in IHS Markit during the third quarter valued at $237,000. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in IHS Markit during the third quarter valued at $16,136,000. Douglas Lane & Associates LLC purchased a new position in shares of IHS Markit during the third quarter valued at approximately $1,788,000. Finally, Stanley Laman Group Ltd. purchased a new position in shares of IHS Markit during the third quarter valued at approximately $1,163,000. 91.47% of the stock is owned by institutional investors.
Shares of IHS Markit Ltd (NASDAQ:INFO) traded down 0.16% during mid-day trading on Friday, hitting $43.33. 546,589 shares of the stock were exchanged. The stock’s 50-day moving average price is $41.32 and its 200-day moving average price is $38.16. IHS Markit Ltd has a 52-week low of $30.38 and a 52-week high of $43.54. The company has a market cap of $17.60 billion, a P/E ratio of 89.90 and a beta of 0.90.
IHS Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, March 28th. The business services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.45 by $0.11. The business earned $844.20 million during the quarter, compared to analysts’ expectations of $843.35 million. IHS Markit had a net margin of 4.94% and a return on equity of 6.57%. The business’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities research analysts anticipate that IHS Markit Ltd will post $2.06 earnings per share for the current fiscal year.
INFO has been the subject of several recent analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $48.00 price objective on shares of IHS Markit in a research note on Tuesday, March 21st. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 price target (up previously from $40.00) on shares of IHS Markit in a research report on Wednesday, March 29th. Deutsche Bank AG reiterated a “buy” rating and set a $50.00 price target (up previously from $44.00) on shares of IHS Markit in a research report on Wednesday, March 29th. BMO Capital Markets reiterated an “outperform” rating and set a $43.00 price target on shares of IHS Markit in a research report on Tuesday, January 17th. Finally, Zacks Investment Research cut shares of IHS Markit from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.77.
In other IHS Markit news, EVP Yaacov Mutnikas sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $41.88, for a total value of $3,350,400.00. Following the transaction, the executive vice president now directly owns 95,823 shares of the company’s stock, valued at approximately $4,013,067.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd S. Hyatt sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $39.38, for a total value of $551,320.00. Following the completion of the transaction, the chief financial officer now directly owns 353,892 shares in the company, valued at $13,936,266.96. The disclosure for this sale can be found here. Insiders have sold a total of 201,168 shares of company stock valued at $8,146,544 in the last quarter.
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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