California Public Employees Retirement System Sells 71,856 Shares of IHS Markit Ltd. (NYSE:INFO)

California Public Employees Retirement System lessened its stake in shares of IHS Markit Ltd. (NYSE:INFO) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 844,346 shares of the business services provider’s stock after selling 71,856 shares during the quarter. California Public Employees Retirement System’s holdings in IHS Markit were worth $95,124,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INFO. Belpointe Asset Management LLC raised its holdings in IHS Markit by 6.5% during the second quarter. Belpointe Asset Management LLC now owns 1,635 shares of the business services provider’s stock worth $184,000 after buying an additional 100 shares during the last quarter. Profund Advisors LLC raised its holdings in IHS Markit by 1.1% during the second quarter. Profund Advisors LLC now owns 8,907 shares of the business services provider’s stock worth $1,004,000 after buying an additional 100 shares during the last quarter. Aureus Asset Management LLC raised its holdings in IHS Markit by 0.6% during the first quarter. Aureus Asset Management LLC now owns 17,392 shares of the business services provider’s stock worth $1,683,000 after buying an additional 111 shares during the last quarter. National Asset Management Inc. raised its holdings in IHS Markit by 3.2% during the second quarter. National Asset Management Inc. now owns 3,652 shares of the business services provider’s stock worth $412,000 after buying an additional 113 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in IHS Markit by 4.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,838 shares of the business services provider’s stock worth $320,000 after buying an additional 123 shares during the last quarter. Institutional investors own 88.21% of the company’s stock.

In other IHS Markit news, CEO Lance Darrell Gordon Uggla sold 43,190 shares of the stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $118.47, for a total transaction of $5,116,719.30. Following the completion of the transaction, the chief executive officer now owns 1,292,323 shares in the company, valued at $153,101,505.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

Several research analysts have weighed in on INFO shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of IHS Markit from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Morgan Stanley lowered their target price on shares of IHS Markit from $141.00 to $137.00 and set an “overweight” rating for the company in a report on Wednesday, September 29th. Truist increased their target price on shares of IHS Markit from $100.00 to $105.00 and gave the company a “hold” rating in a report on Friday, June 25th. BMO Capital Markets increased their target price on shares of IHS Markit from $110.00 to $121.00 and gave the company a “market perform” rating in a report on Thursday, June 24th. Finally, Zacks Investment Research upgraded shares of IHS Markit from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Friday, October 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

INFO opened at $119.31 on Thursday. The firm has a market cap of $47.59 billion, a P/E ratio of 76.48 and a beta of 0.98. The firm has a 50-day moving average of $119.90 and a 200 day moving average of $112.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.04. IHS Markit Ltd. has a fifty-two week low of $78.64 and a fifty-two week high of $125.23.

IHS Markit (NYSE:INFO) last posted its quarterly earnings results on Monday, September 27th. The business services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. IHS Markit had a net margin of 13.89% and a return on equity of 11.69%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities research analysts predict that IHS Markit Ltd. will post 2.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.67%. IHS Markit’s dividend payout ratio is presently 34.48%.

About IHS Markit

IHS Markit Ltd. engages in the provision of information, analytics, and solutions to customers in the business, finance, and government sectors. It operates through the following segments: Financial Services, Transportation, Resources, and Consolidated Markets and Solutions. The Financial Services segment consists of pricing and reference data, indices product portfolio, valuation, and research, sales, and trading activities.

Further Reading: How does the Beige Book influence monetary policy?

Want to see what other hedge funds are holding INFO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IHS Markit Ltd. (NYSE:INFO).

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

Receive News & Ratings for IHS Markit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IHS Markit and related companies with MarketBeat.com's FREE daily email newsletter.