IHS Markit Ltd. (INFO) Sees Significant Drop in Short Interest

IHS Markit Ltd. (NASDAQ:INFO) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 10,128,805 shares, a decrease of 25.8% from the October 13th total of 13,656,490 shares. Based on an average daily trading volume, of 2,074,650 shares, the days-to-cover ratio is presently 4.9 days. Currently, 2.6% of the company’s stock are sold short.

Several brokerages have issued reports on INFO. Bank of America Corporation cut their price objective on IHS Markit from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, September 27th. Royal Bank of Canada cut their price objective on IHS Markit from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 27th. Morgan Stanley cut their price objective on IHS Markit from $41.00 to $40.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 27th. Wells Fargo & Company cut their price objective on IHS Markit from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $50.00 price objective (down previously from $52.00) on shares of IHS Markit in a research note on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.67.

In other IHS Markit news, CFO Todd S. Hyatt sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $44.20, for a total transaction of $884,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of hedge funds have recently modified their holdings of the stock. Financial Counselors Inc. grew its holdings in IHS Markit by 2.8% in the 2nd quarter. Financial Counselors Inc. now owns 7,103 shares of the business services provider’s stock worth $313,000 after buying an additional 191 shares in the last quarter. Bayesian Capital Management LP grew its holdings in IHS Markit by 2.0% in the 2nd quarter. Bayesian Capital Management LP now owns 10,100 shares of the business services provider’s stock worth $445,000 after buying an additional 200 shares in the last quarter. First Personal Financial Services grew its holdings in IHS Markit by 0.4% in the 2nd quarter. First Personal Financial Services now owns 64,127 shares of the business services provider’s stock worth $2,824,000 after buying an additional 239 shares in the last quarter. Stifel Financial Corp grew its holdings in IHS Markit by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 45,554 shares of the business services provider’s stock worth $2,020,000 after buying an additional 274 shares in the last quarter. Finally, Veritable L.P. grew its holdings in IHS Markit by 1.2% in the 2nd quarter. Veritable L.P. now owns 26,580 shares of the business services provider’s stock worth $1,171,000 after buying an additional 317 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Shares of IHS Markit (NASDAQ INFO) opened at $42.93 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $17,232.19, a P/E ratio of 26.67, a PEG ratio of 2.31 and a beta of 0.82. IHS Markit has a 1 year low of $34.13 and a 1 year high of $48.53.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $904.70 million for the quarter, compared to analysts’ expectations of $890.99 million. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. research analysts predict that IHS Markit will post 1.56 earnings per share for the current fiscal year.

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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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