Insider Selling: IHS Markit (INFO) Director Sells 2,000,000 Shares of Stock

IHS Markit (NASDAQ:INFO) 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 transaction of $104,100,000.00. Following the completion of the sale, the director now owns 15,907 shares of the company’s stock, valued at $827,959.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of IHS Markit traded up $0.04, hitting $52.65, during trading hours on Friday, Marketbeat Ratings reports. 1,506,552 shares of the company’s stock traded hands, compared to its average volume of 2,117,952. IHS Markit has a 12-month low of $42.40 and a 12-month high of $53.05. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.37 and a beta of 0.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.41 and a current ratio of 1.41.

IHS Markit (NASDAQ:INFO) last released its earnings results on Tuesday, June 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. IHS Markit had a net margin of 16.03% and a return on equity of 9.68%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $974.12 million. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. sell-side analysts forecast that IHS Markit will post 1.85 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ostrum Asset Management purchased a new position in IHS Markit in the 1st quarter worth approximately $186,000. Korea Investment CORP raised its holdings in IHS Markit by 42.0% in the 1st quarter. Korea Investment CORP now owns 4,730 shares of the business services provider’s stock worth $228,000 after acquiring an additional 1,400 shares during the last quarter. ETRADE Capital Management LLC purchased a new position in IHS Markit in the 4th quarter worth approximately $247,000. Rehmann Capital Advisory Group purchased a new position in IHS Markit in the 4th quarter worth approximately $261,000. Finally, D.A. Davidson & CO. purchased a new position in IHS Markit in the 1st quarter worth approximately $306,000. Institutional investors own 96.26% of the company’s stock.

Several analysts have commented on INFO shares. Morgan Stanley raised their price objective on shares of IHS Markit from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, March 28th. Royal Bank of Canada restated a “buy” rating and issued a $57.00 price objective (up from $55.00) on shares of IHS Markit in a report on Tuesday, March 27th. They noted that the move was a valuation call. ValuEngine upgraded shares of IHS Markit from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. BMO Capital Markets lifted their target price on shares of IHS Markit to $57.00 in a report on Tuesday, May 15th. Finally, Macquarie upgraded shares of IHS Markit from a “neutral” rating to an “outperform” rating in a report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.38.

About IHS Markit

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.

Insider Buying and Selling by Quarter for IHS Markit (NASDAQ:INFO)

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