UBS Group Cuts IHS Markit (NYSE:INFO) Price Target to $63.00

IHS Markit (NYSE:INFO) had its price objective reduced by UBS Group from $75.00 to $63.00 in a report released on Wednesday morning, AnalystRatings.com reports. They currently have a neutral rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird reiterated an outperform rating and issued a $69.00 target price (up previously from $64.00) on shares of IHS Markit in a research note on Wednesday. Wells Fargo & Co lowered their target price on shares of IHS Markit from $91.00 to $70.00 and set an overweight rating on the stock in a report on Friday, March 20th. Argus raised IHS Markit from a hold rating to a buy rating and set a $90.00 price target for the company in a report on Thursday, January 16th. Morgan Stanley decreased their price objective on IHS Markit from $63.00 to $60.00 and set an underweight rating on the stock in a research note on Tuesday, March 10th. Finally, Deutsche Bank cut their target price on IHS Markit from $80.00 to $71.00 and set a buy rating for the company in a research note on Thursday, March 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $70.94.

Shares of NYSE:INFO traded down $0.51 during mid-day trading on Wednesday, reaching $59.05. The company had a trading volume of 2,788,735 shares, compared to its average volume of 5,092,983. IHS Markit has a one year low of $44.81 and a one year high of $81.65. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $68.84 and its 200-day moving average price is $71.54. The firm has a market cap of $25.31 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.18 and a beta of 0.87.

IHS Markit (NYSE:INFO) last issued its earnings results on Tuesday, March 24th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. IHS Markit had a return on equity of 10.94% and a net margin of 19.74%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, research analysts anticipate that IHS Markit will post 2.23 EPS for the current fiscal year.

In related news, EVP Jonathan Gear sold 16,191 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $80.08, for a total value of $1,296,575.28. Following the sale, the executive vice president now directly owns 151,960 shares of the company’s stock, valued at $12,168,956.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lance Darrell Gordon Uggla sold 1,302,933 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $78.12, for a total value of $101,785,125.96. Following the completion of the transaction, the chief executive officer now owns 2,408,076 shares of the company’s stock, valued at approximately $188,118,897.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,801,216 shares of company stock worth $141,958,771 in the last ninety days. Insiders own 0.75% of the company’s stock.

A number of large investors have recently bought and sold shares of INFO. Voya Investment Management LLC increased its stake in shares of IHS Markit by 5.4% during the third quarter. Voya Investment Management LLC now owns 208,926 shares of the business services provider’s stock valued at $13,973,000 after purchasing an additional 10,737 shares in the last quarter. Voya Financial Advisors Inc. raised its stake in IHS Markit by 8.2% during the third quarter. Voya Financial Advisors Inc. now owns 13,623 shares of the business services provider’s stock valued at $895,000 after buying an additional 1,034 shares during the last quarter. State Street Corp boosted its holdings in IHS Markit by 5.9% in the third quarter. State Street Corp now owns 15,376,831 shares of the business services provider’s stock worth $1,028,402,000 after acquiring an additional 853,329 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its stake in shares of IHS Markit by 10.3% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 334,948 shares of the business services provider’s stock worth $22,402,000 after acquiring an additional 31,297 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of IHS Markit by 145.7% during the third quarter. Virtu Financial LLC now owns 12,365 shares of the business services provider’s stock valued at $827,000 after acquiring an additional 7,333 shares in the last quarter. 91.11% of the stock is currently owned by institutional investors and hedge funds.

IHS Markit Company Profile

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.

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