Jupiter Asset Management Ltd. cut its stake in IHS Markit Ltd. (NYSE:INFO) by 46.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 169,273 shares of the business services provider’s stock after selling 147,832 shares during the period. Jupiter Asset Management Ltd.’s holdings in IHS Markit were worth $16,382,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Choate Investment Advisors lifted its stake in IHS Markit by 1.6% in the first quarter. Choate Investment Advisors now owns 6,114 shares of the business services provider’s stock valued at $592,000 after buying an additional 95 shares during the period. Wedbush Securities Inc. lifted its stake in IHS Markit by 1.7% in the first quarter. Wedbush Securities Inc. now owns 5,885 shares of the business services provider’s stock valued at $570,000 after buying an additional 98 shares during the period. SOA Wealth Advisors LLC. lifted its stake in IHS Markit by 19.1% in the first quarter. SOA Wealth Advisors LLC. now owns 679 shares of the business services provider’s stock valued at $65,000 after buying an additional 109 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in IHS Markit by 3.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,538 shares of the business services provider’s stock valued at $318,000 after buying an additional 110 shares during the period. Finally, CX Institutional lifted its stake in IHS Markit by 23.5% in the first quarter. CX Institutional now owns 657 shares of the business services provider’s stock valued at $64,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 84.71% of the company’s stock.
Several brokerages have issued reports on INFO. Morgan Stanley boosted their price target on IHS Markit from $123.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. BMO Capital Markets upped their target price on IHS Markit from $96.00 to $110.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 14th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. IHS Markit has a consensus rating of “Buy” and a consensus target price of $88.86.
NYSE INFO opened at $107.29 on Friday. The stock has a market cap of $45.46 billion, a price-to-earnings ratio of 80.07 and a beta of 0.98. The company has a fifty day moving average of $104.77. IHS Markit Ltd. has a 12 month low of $68.03 and a 12 month high of $109.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.95 and a quick ratio of 0.95.
IHS Markit (NYSE:INFO) last released its quarterly earnings results on Monday, March 22nd. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. IHS Markit had a return on equity of 11.30% and a net margin of 12.36%. IHS Markit’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. As a group, research analysts anticipate that IHS Markit Ltd. will post 2.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 17th. Investors of record on Monday, May 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, April 30th. IHS Markit’s payout ratio is currently 34.48%.
About IHS Markit
IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government. Its Financial Services segment offers pricing and reference data, indices, valuation and trading services, trade processing, enterprise software, and managed services to traders, portfolio managers, risk managers, research professionals, and other financial market participants, as well as operations, compliance, and enterprise data managers.
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