State of Michigan Retirement System Purchases 9,989 Shares of IHS Markit Ltd (NYSE:INFO)

State of Michigan Retirement System boosted its position in IHS Markit Ltd (NYSE:INFO) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,889 shares of the business services provider’s stock after buying an additional 9,989 shares during the quarter. State of Michigan Retirement System’s holdings in IHS Markit were worth $7,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of INFO. Edgewood Management LLC lifted its holdings in shares of IHS Markit by 1.8% in the 1st quarter. Edgewood Management LLC now owns 19,225,510 shares of the business services provider’s stock worth $1,153,531,000 after acquiring an additional 337,870 shares during the last quarter. Clearbridge Investments LLC lifted its stake in IHS Markit by 1.0% in the first quarter. Clearbridge Investments LLC now owns 9,167,572 shares of the business services provider’s stock worth $550,054,000 after purchasing an additional 90,166 shares during the last quarter. Geode Capital Management LLC boosted its position in IHS Markit by 0.8% during the first quarter. Geode Capital Management LLC now owns 6,335,137 shares of the business services provider’s stock valued at $379,394,000 after buying an additional 49,175 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of IHS Markit by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,232,160 shares of the business services provider’s stock valued at $373,929,000 after buying an additional 555,636 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its holdings in shares of IHS Markit by 21.7% in the first quarter. Sustainable Growth Advisers LP now owns 5,907,644 shares of the business services provider’s stock worth $354,459,000 after buying an additional 1,054,352 shares during the period. Institutional investors and hedge funds own 88.33% of the company’s stock.

In other news, EVP Adam Jason Kansler sold 100,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $67.75, for a total value of $6,775,000.00. Following the sale, the executive vice president now directly owns 166,680 shares of the company’s stock, valued at $11,292,570. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sari Beth Granat sold 60,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $80.00, for a total value of $4,800,000.00. Following the completion of the sale, the executive vice president now directly owns 109,898 shares in the company, valued at $8,791,840. The disclosure for this sale can be found here. Insiders have sold 200,500 shares of company stock valued at $14,632,750 in the last ninety days. Insiders own 0.75% of the company’s stock.

Shares of INFO stock opened at $80.73 on Friday. The business’s fifty day moving average is $75.51 and its 200 day moving average is $71.02. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a market cap of $34.07 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.02 and a beta of 0.94. IHS Markit Ltd has a twelve month low of $44.81 and a twelve month high of $81.65.

IHS Markit (NYSE:INFO) last announced its earnings results on Tuesday, June 23rd. The business services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.05 billion. IHS Markit had a net margin of 18.43% and a return on equity of 10.73%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. Equities research analysts expect that IHS Markit Ltd will post 2.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, July 30th. IHS Markit’s dividend payout ratio is 32.54%.

A number of equities analysts have commented on INFO shares. UBS Group raised IHS Markit from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $85.00 in a research note on Wednesday, June 24th. Barclays lifted their target price on shares of IHS Markit from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Royal Bank of Canada increased their price target on shares of IHS Markit from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Robert W. Baird boosted their price objective on shares of IHS Markit from $69.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Credit Suisse Group began coverage on shares of IHS Markit in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $78.06.

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.

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Institutional Ownership by Quarter for IHS Markit (NYSE:INFO)

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