Select Equity Group L.P. Lowers Stake in IHS Markit Ltd (INFO)
Select Equity Group L.P. cut its holdings in IHS Markit Ltd (NASDAQ:INFO) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,803,675 shares of the business services provider’s stock after selling 360,535 shares during the quarter. IHS Markit makes up 2.8% of Select Equity Group L.P.’s portfolio, making the stock its 11th largest position. Select Equity Group L.P. owned 1.74% of IHS Markit worth $351,002,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI acquired a new stake in shares of IHS Markit in the second quarter valued at $8,217,000. Tower Research Capital LLC TRC bought a new position in IHS Markit in the second quarter valued at about $124,000. Prana Capital Management LP boosted its holdings in IHS Markit by 564.9% in the second quarter. Prana Capital Management LP now owns 438,271 shares of the business services provider’s stock valued at $22,610,000 after acquiring an additional 372,360 shares during the last quarter. Paloma Partners Management Co bought a new position in IHS Markit in the second quarter valued at about $1,072,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in IHS Markit by 148.3% in the second quarter. Cubist Systematic Strategies LLC now owns 72,242 shares of the business services provider’s stock valued at $3,727,000 after acquiring an additional 43,142 shares during the last quarter. Institutional investors own 97.12% of the company’s stock.
In other IHS Markit news, EVP Sari Beth Granat sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $51.99, for a total transaction of $1,299,750.00. Following the transaction, the executive vice president now owns 30,580 shares in the company, valued at $1,589,854.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William E. Ford sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $52.05, for a total value of $104,100,000.00. Following the transaction, the director now owns 15,907 shares in the company, valued at approximately $827,959.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,050,000 shares of company stock worth $106,724,750. Company insiders own 2.68% of the company’s stock.
IHS Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, June 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. IHS Markit had a return on equity of 9.68% and a net margin of 16.03%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $974.12 million. During the same quarter last year, the business earned $0.52 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. equities analysts predict that IHS Markit Ltd will post 1.85 earnings per share for the current year.
Several equities analysts recently issued reports on INFO shares. Macquarie upgraded IHS Markit from a “neutral” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Tuesday, May 22nd. BidaskClub cut IHS Markit from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 31st. ValuEngine cut IHS Markit from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded IHS Markit from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, June 27th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $61.00 price target on shares of IHS Markit in a report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.62.
IHS Markit Profile
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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