IHS Markit to Gain From Partnership With Windward: Here's Why

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So far this year, shares of IHS Markit Ltd.INFO 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 , Genpact Limited G and WEX Inc. WEX , 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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