So far this year, shares of IHS Markit Ltd. have gained 17.2%, outperforming the 11.5% rise of the industry it belongs to and 3.9% rise of the Zacks S&P 500 Composite Index.
The company recently entered into a strategic agreement with Windward aimed at offering latest data on vessel features, casualties and ports state control.
Based in Tel Aviv and London, Windward is a maritime risk analytics startup that helps marine insurers with risk selection and pricing. It also helps governments and organizations like the United Nations Security Council locate threat-posing vessels.
Guy Sear, executive director of Maritime & Trade at IHS Markit, stated that the partnership will help targeted customers receive high quality data to assist them in decision making.
A Win-Win Situation
IHS Markit has one of the biggest shipping databases in the world. The partnership is likely to drive the company’s Transportation segment, which includes Automotive, Maritime & Trade (“M&T”) and Aerospace, Defense & Security (“AD&S”) offerings.
Performance of the segment was strong in the last reported quarter with revenues improving 16% year over year on a reported basis and 9% organically. The segment contributed around 30% to IHS Markit’s total revenues in third-quarter fiscal 2018.
As far as Windward is concerned, the collaboration should boost its risk modelling capabilities and enhance accuracy of maritime data and analytics tools.
Zacks Rank & Stocks to Consider
Currently, IHS Markit is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Business Services sector include Paychex, Inc. (PAYX - Free Report) , Genpact Limited (G - Free Report) and WEX Inc. (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy). The long-term expected EPS (three to five years) growth rate for Paychex, Genpact and WEX is 8.5%, 10% and 15%, respectively.
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So far this year, shares of IHS Markit Ltd. have gained 17.2%, outperforming the 11.5% rise of the industry it belongs to and 3.9% rise of the Zacks S&P 500 Composite Index.
The company recently entered into a strategic agreement with Windward aimed at offering latest data on vessel features, casualties and ports state control.
Based in Tel Aviv and London, Windward is a maritime risk analytics startup that helps marine insurers with risk selection and pricing. It also helps governments and organizations like the United Nations Security Council locate threat-posing vessels.
Guy Sear, executive director of Maritime & Trade at IHS Markit, stated that the partnership will help targeted customers receive high quality data to assist them in decision making.
A Win-Win Situation
IHS Markit has one of the biggest shipping databases in the world. The partnership is likely to drive the company’s Transportation segment, which includes Automotive, Maritime & Trade (“M&T”) and Aerospace, Defense & Security (“AD&S”) offerings.
Performance of the segment was strong in the last reported quarter with revenues improving 16% year over year on a reported basis and 9% organically. The segment contributed around 30% to IHS Markit’s total revenues in third-quarter fiscal 2018.
As far as Windward is concerned, the collaboration should boost its risk modelling capabilities and enhance accuracy of maritime data and analytics tools.
Zacks Rank & Stocks to Consider
Currently, IHS Markit is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Business Services sector include Paychex, Inc. (PAYX - Free Report) , Genpact Limited (G - Free Report) and WEX Inc. (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy). The long-term expected EPS (three to five years) growth rate for Paychex, Genpact and WEX is 8.5%, 10% and 15%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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