Candriam Luxembourg S.C.A. Raises Position in IHS Markit Ltd. (INFO)
Candriam Luxembourg S.C.A. boosted its position in shares of IHS Markit Ltd. (NASDAQ:INFO) by 14.7% during the second quarter, Holdings Channel reports. The fund owned 31,975 shares of the business services provider’s stock after buying an additional 4,090 shares during the period. Candriam Luxembourg S.C.A.’s holdings in IHS Markit were worth $1,408,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Korea Investment CORP raised its position in shares of 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 last quarter. Mutual of America Capital Management LLC raised its position in shares of 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 last quarter. Global X Management Co. LLC raised its position in shares of 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 last quarter. Private Advisor Group LLC purchased a new position in shares of IHS Markit during the first quarter worth $214,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of IHS Markit during the first quarter worth $221,000. Institutional investors own 98.13% of the company’s stock.
Shares of IHS Markit Ltd. (INFO) opened at 45.65 on Friday. The company’s 50 day moving average price is $45.36 and its 200-day moving average price is $43.25. The firm has a market capitalization of $18.25 billion, a P/E ratio of 84.38 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.
IHS Markit (NASDAQ:INFO) last released its earnings results on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm had revenue of $906.10 million during the quarter, compared to analyst estimates of $897.80 million. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The firm’s revenue was up 54.1% compared to the same quarter last year. On average, equities analysts predict that IHS Markit Ltd. will post $2.06 earnings per share for the current fiscal year.
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A number of research analysts have weighed in on the company. Cantor Fitzgerald restated a “hold” rating and issued a $41.00 price objective on shares of IHS Markit in a report on Wednesday, April 26th. BMO Capital Markets raised their price objective on IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of IHS Markit in a research note on Tuesday, July 18th. UBS AG reaffirmed a “neutral” rating and issued a $47.00 target price (up from $43.00) on shares of IHS Markit in a research note on Friday, June 30th. Finally, Stifel Nicolaus raised their target price on IHS Markit from $38.00 to $43.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.00.
In related news, Director William E. Ford sold 1,300,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $43.50, for a total value of $56,550,000.00. Following the completion of the transaction, the director now directly owns 9,639 shares in the company, valued at $419,296.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Lance Darrell Gordon Uggla sold 112,162 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $47.27, for a total value of $5,301,897.74. Following the completion of the transaction, the president now owns 461,344 shares of the company’s stock, valued at $21,807,730.88. The disclosure for this sale can be found here. Insiders sold 2,331,463 shares of company stock valued at $104,858,385 over 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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