IHS Markit (NYSE:INFO) Reaches New 52-Week High at $73.28

IHS Markit Ltd (NYSE:INFO) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $73.28 and last traded at $72.96, with a volume of 14773 shares. The stock had previously closed at $72.31.

A number of research firms recently weighed in on INFO. Credit Suisse Group lifted their price objective on shares of IHS Markit from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Canaccord Genuity initiated coverage on IHS Markit in a research report on Thursday, September 12th. They set a “buy” rating and a $78.00 target price on the stock. ValuEngine downgraded IHS Markit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $75.00 price target on IHS Markit and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $76.00 price target on shares of IHS Markit in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. IHS Markit presently has an average rating of “Buy” and a consensus target price of $72.15.

The company’s 50 day simple moving average is $70.58 and its 200-day simple moving average is $65.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $29.13 billion, a PE ratio of 36.73, a PEG ratio of 2.84 and a beta of 0.79.

IHS Markit (NYSE:INFO) last released its quarterly earnings results on Tuesday, September 24th. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.14. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. IHS Markit had a net margin of 8.74% and a return on equity of 10.35%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. On average, equities research analysts forecast that IHS Markit Ltd will post 2.13 earnings per share for the current fiscal year.

In related news, CEO Lance Darrell Gordon Uggla sold 153,808 shares of IHS Markit stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.37, for a total transaction of $10,977,276.96. Following the completion of the sale, the chief executive officer now owns 424,158 shares of the company’s stock, valued at $30,272,156.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.11% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC raised its holdings in shares of IHS Markit by 2,581.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,641,197 shares of the business services provider’s stock valued at $295,737,000 after acquiring an additional 4,468,132 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of IHS Markit by 381.1% in the second quarter. JPMorgan Chase & Co. now owns 3,717,941 shares of the business services provider’s stock worth $234,601,000 after purchasing an additional 2,945,175 shares during the last quarter. Invesco Ltd. increased its position in shares of IHS Markit by 42.5% in the second quarter. Invesco Ltd. now owns 6,093,263 shares of the business services provider’s stock worth $388,262,000 after purchasing an additional 1,817,444 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of IHS Markit by 32.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,694,564 shares of the business services provider’s stock worth $313,972,000 after purchasing an additional 1,158,867 shares during the last quarter. Finally, State Street Corp raised its stake in IHS Markit by 5.9% in the third quarter. State Street Corp now owns 15,376,831 shares of the business services provider’s stock valued at $1,028,402,000 after purchasing an additional 853,329 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

About IHS Markit (NYSE:INFO)

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.

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