IHS Markit Ltd. (INFO) Downgraded by Zacks Investment Research

IHS Markit Ltd. (NASDAQ:INFO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, June 29th.

According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “

A number of other research firms also recently issued reports on INFO. Deutsche Bank AG reissued a “buy” rating and set a $52.00 price target (up previously from $50.00) on shares of IHS Markit in a research report on Friday, June 16th. Cantor Fitzgerald reissued a “hold” rating on shares of IHS Markit in a research report on Tuesday, March 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $50.00 price objective (up previously from $48.00) on shares of IHS Markit in a research report on Wednesday, June 28th. Stifel Nicolaus raised their price objective on IHS Markit from $38.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 price objective (up previously from $40.00) on shares of IHS Markit in a research report on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.00.

Shares of IHS Markit (NASDAQ INFO) traded up 1.00% during trading on Thursday, reaching $46.53. The company’s stock had a trading volume of 2,198,638 shares. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 86.01 and a beta of 0.86. IHS Markit has a one year low of $32.90 and a one year high of $47.92. The company has a 50-day moving average price of $45.60 and a 200-day moving average price of $42.69.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, June 27th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The business had revenue of $906.10 million for the quarter, compared to the consensus estimate of $897.80 million. The business’s revenue was up 54.1% compared to the same quarter last year. On average, equities research analysts forecast that IHS Markit will post $2.06 earnings per share for the current fiscal year.

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In other IHS Markit news, Director William E. Ford sold 1,300,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 9,639 shares in the company, valued at $419,296.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Lance Darrell Gordon Uggla sold 112,162 shares of the stock in a transaction dated 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 sale, 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. Over the last quarter, insiders sold 1,485,823 shares of company stock valued at $65,113,305.

A number of large investors have recently added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. acquired a new stake in IHS Markit during the first quarter worth approximately $575,000. Conestoga Capital Advisors LLC boosted its position in shares of IHS Markit by 57.5% in the first quarter. Conestoga Capital Advisors LLC now owns 55,080 shares of the business services provider’s stock valued at $2,311,000 after buying an additional 20,117 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of IHS Markit during the first quarter valued at about $6,368,000. Renaissance Technologies LLC boosted its position in shares of IHS Markit by 49.7% in the first quarter. Renaissance Technologies LLC now owns 2,048,966 shares of the business services provider’s stock valued at $85,954,000 after buying an additional 679,800 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of IHS Markit by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,727,522 shares of the business services provider’s stock valued at $72,469,000 after buying an additional 99,109 shares during the last quarter. Institutional investors own 98.05% of the company’s stock.

About IHS Markit

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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