IHS Markit Ltd (NYSE:INFO) Short Interest Down 9.4% in January

IHS Markit Ltd (NYSE:INFO) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 10,300,000 shares, a decline of 9.4% from the January 15th total of 11,370,000 shares. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 2.6% of the company’s shares are sold short.

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on IHS Markit from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. BMO Capital Markets cut IHS Markit from an “outperform” rating to a “market perform” rating and set a $83.00 target price for the company. in a report on Monday, January 27th. SunTrust Banks upped their target price on IHS Markit to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Cantor Fitzgerald upped their target price on IHS Markit from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Finally, Barclays reiterated a “buy” rating and issued a $85.00 target price on shares of IHS Markit in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $76.60.

In related news, EVP Adam Jason Kansler sold 26,600 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $81.01, for a total transaction of $2,154,866.00. Following the completion of the transaction, the executive vice president now owns 134,214 shares in the company, valued at approximately $10,872,676.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Gear sold 16,191 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $80.08, for a total value of $1,296,575.28. Following the transaction, the executive vice president now owns 151,960 shares of the company’s stock, valued at approximately $12,168,956.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,667,782 shares of company stock valued at $129,669,379. 2.68% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in IHS Markit by 2.6% in the 2nd quarter. BlackRock Inc. now owns 24,402,266 shares of the business services provider’s stock valued at $1,554,912,000 after acquiring an additional 627,522 shares during the period. Cerebellum GP LLC bought a new stake in IHS Markit in the 3rd quarter valued at about $80,000. Nwam LLC bought a new stake in IHS Markit in the 3rd quarter valued at about $204,000. Wealthfront Advisers LLC raised its stake in IHS Markit by 6.7% in the 3rd quarter. Wealthfront Advisers LLC now owns 14,464 shares of the business services provider’s stock valued at $967,000 after acquiring an additional 906 shares during the period. Finally, DNB Asset Management AS raised its stake in IHS Markit by 5.4% in the 3rd quarter. DNB Asset Management AS now owns 66,018 shares of the business services provider’s stock valued at $4,415,000 after acquiring an additional 3,397 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

Shares of INFO stock traded up $0.49 during mid-day trading on Friday, hitting $80.76. The stock had a trading volume of 1,169,584 shares. IHS Markit has a 12-month low of $52.06 and a 12-month high of $81.63. The firm’s 50-day moving average is $78.59 and its two-hundred day moving average is $71.13.

IHS Markit (NYSE:INFO) last issued its earnings results on Tuesday, January 14th. The business services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. IHS Markit’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. Research analysts predict that IHS Markit will post 2.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, February 5th.

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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