Sandy Spring Bank Increases Stock Position in IHS Markit Ltd. (NYSE:INFO)

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Sandy Spring Bank increased its position in IHS Markit Ltd. (NYSE:INFO) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,749 shares of the business services provider’s stock after purchasing an additional 4,193 shares during the quarter. Sandy Spring Bank’s holdings in IHS Markit were worth $3,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in IHS Markit by 15.0% in the third quarter. Cullen Frost Bankers Inc. now owns 935 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 122 shares in the last quarter. Freestone Capital Holdings LLC raised its holdings in IHS Markit by 0.6% in the third quarter. Freestone Capital Holdings LLC now owns 20,770 shares of the business services provider’s stock valued at $1,631,000 after acquiring an additional 126 shares in the last quarter. Avalon Investment & Advisory raised its holdings in IHS Markit by 0.6% in the third quarter. Avalon Investment & Advisory now owns 21,037 shares of the business services provider’s stock valued at $1,652,000 after acquiring an additional 133 shares in the last quarter. CAPROCK Group Inc. raised its holdings in IHS Markit by 3.4% in the third quarter. CAPROCK Group Inc. now owns 4,051 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 134 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in IHS Markit by 1.6% in the second quarter. SRS Capital Advisors Inc. now owns 9,112 shares of the business services provider’s stock valued at $688,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

In other news, EVP Edouard Tavernier sold 889 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $84.42, for a total transaction of $75,049.38. Following the completion of the transaction, the executive vice president now owns 27,759 shares in the company, valued at approximately $2,343,414.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

INFO traded down $0.83 on Tuesday, reaching $91.51. The company had a trading volume of 6,791 shares, compared to its average volume of 2,357,046. The company has a fifty day moving average of $82.51 and a 200-day moving average of $77.21. The company has a market capitalization of $36.78 billion, a P/E ratio of 40.32, a PEG ratio of 3.22 and a beta of 0.98. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. IHS Markit Ltd. has a one year low of $44.81 and a one year high of $94.02.

IHS Markit (NYSE:INFO) last announced its earnings results on Tuesday, September 29th. The business services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. IHS Markit had a net margin of 21.45% and a return on equity of 11.07%. IHS Markit’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Research analysts predict that IHS Markit Ltd. will post 2.23 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 16th. Investors of record on Friday, October 30th were given a $0.17 dividend. The ex-dividend date was Thursday, October 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.74%. IHS Markit’s dividend payout ratio is presently 32.54%.

A number of analysts have weighed in on INFO shares. Bank of America increased their target price on shares of IHS Markit from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. JPMorgan Chase & Co. increased their target price on shares of IHS Markit from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Morgan Stanley increased their target price on shares of IHS Markit from $78.00 to $79.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 20th. Truist increased their target price on shares of IHS Markit from $87.00 to $90.00 in a report on Wednesday, September 30th. Finally, William Blair reissued an “outperform” rating on shares of IHS Markit in a report on Wednesday, September 30th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.82.

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

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