Norges Bank Takes Position in IHS Markit Ltd (NASDAQ:INFO)

Norges Bank bought a new position in IHS Markit Ltd (NASDAQ:INFO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,427,003 shares of the business services provider’s stock, valued at approximately $164,394,000. Norges Bank owned 0.81% of IHS Markit at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in INFO. Dimensional Fund Advisors LP lifted its holdings in shares of IHS Markit by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 168,650 shares of the business services provider’s stock valued at $8,090,000 after purchasing an additional 6,628 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of IHS Markit in the fourth quarter valued at $748,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of IHS Markit in the fourth quarter valued at $340,000. Nordea Investment Management AB lifted its holdings in shares of IHS Markit by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 365,491 shares of the business services provider’s stock valued at $17,532,000 after purchasing an additional 23,947 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of IHS Markit in the fourth quarter worth $23,067,000. Institutional investors own 97.49% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of IHS Markit from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Piper Jaffray Companies increased their target price on shares of IHS Markit from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their target price on shares of IHS Markit from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 27th. BidaskClub raised shares of IHS Markit from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $51.00 target price on shares of IHS Markit in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $58.86.

INFO stock traded down $0.21 during mid-day trading on Wednesday, reaching $56.08. 1,377,548 shares of the stock traded hands, compared to its average volume of 1,886,746. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.64 and a quick ratio of 0.64. IHS Markit Ltd has a 52 week low of $44.52 and a 52 week high of $57.69. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

IHS Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. IHS Markit had a net margin of 9.96% and a return on equity of 9.80%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts expect that IHS Markit Ltd will post 2.12 EPS for the current fiscal year.

In related news, CFO Todd S. Hyatt sold 7,942 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $52.03, for a total value of $413,222.26. Following the completion of the sale, the chief financial officer now owns 283,083 shares in the company, valued at $14,728,808.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Gear sold 15,587 shares of the stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $52.51, for a total transaction of $818,473.37. Following the completion of the sale, the executive vice president now owns 168,151 shares of the company’s stock, valued at approximately $8,829,609.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,450 shares of company stock valued at $4,297,355. 2.68% of the stock is owned by corporate insiders.

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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 (NASDAQ:INFO)

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