IHS Markit (NASDAQ:INFO) Now Covered by Analysts at Canaccord Genuity

Canaccord Genuity started coverage on shares of IHS Markit (NASDAQ:INFO) in a report released on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $78.00 price objective on the business services provider’s stock.

Several other equities analysts have also recently commented on INFO. Zacks Investment Research upgraded shares of IHS Markit from a hold rating to a buy rating and set a $67.00 target price for the company in a research report on Monday, August 26th. Cantor Fitzgerald increased their price target on shares of IHS Markit from $51.00 to $59.00 and gave the company a neutral rating in a research report on Thursday, June 27th. BMO Capital Markets increased their target price on shares of IHS Markit from $63.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, June 27th. Piper Jaffray Companies increased their target price on shares of IHS Markit from $64.00 to $70.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. Finally, BidaskClub lowered shares of IHS Markit from a strong-buy rating to a buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. IHS Markit has an average rating of Buy and a consensus target price of $63.36.

INFO stock traded up $0.29 during midday trading on Thursday, hitting $67.86. The company’s stock had a trading volume of 1,901,336 shares, compared to its average volume of 1,791,731. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.66 and a quick ratio of 0.66. IHS Markit has a twelve month low of $44.52 and a twelve month high of $68.88. The company’s fifty day moving average price is $64.90 and its 200 day moving average price is $59.53. The stock has a market capitalization of $26.99 billion, a P/E ratio of 34.27, a PEG ratio of 2.83 and a beta of 0.82.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. IHS Markit had a net margin of 10.49% and a return on equity of 10.13%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities analysts expect that IHS Markit will post 2.13 EPS for the current fiscal year.

In related news, CFO Todd S. Hyatt sold 25,483 shares of IHS Markit stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $63.56, for a total value of $1,619,699.48. Following the transaction, the chief financial officer now directly owns 217,600 shares of the company’s stock, valued at $13,830,656. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sari Beth Granat sold 50,000 shares of IHS Markit stock in a transaction on Friday, June 28th. The stock was sold at an average price of $63.04, for a total transaction of $3,152,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,141 shares in the company, valued at $5,430,328.64. The disclosure for this sale can be found here. Insiders have sold 300,483 shares of company stock worth $19,436,699 over the last three months. Insiders own 1.11% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. purchased a new position in shares of IHS Markit in the second quarter worth $25,000. Cornerstone Advisors Inc. boosted its holdings in shares of IHS Markit by 87.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 574 shares of the business services provider’s stock valued at $37,000 after buying an additional 268 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of IHS Markit during the 2nd quarter valued at $44,000. Rehmann Capital Advisory Group boosted its holdings in shares of IHS Markit by 21.5% during the 1st quarter. Rehmann Capital Advisory Group now owns 972 shares of the business services provider’s stock valued at $53,000 after buying an additional 172 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in shares of IHS Markit during the 1st quarter valued at $58,000. 96.18% of the stock is currently owned by institutional investors.

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.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

Analyst Recommendations for IHS Markit (NASDAQ:INFO)

Receive News & Ratings for IHS Markit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IHS Markit and related companies with MarketBeat.com's FREE daily email newsletter.