Markit Ltd. (MRKT) Sees Large Volume Increase
Markit Ltd. (NASDAQ:MRKT) shares saw strong trading volume on Monday . 1,457,636 shares traded hands during trading, an increase of 63% from the previous session’s volume of 894,200 shares.The stock last traded at $32.66 and had previously closed at $32.03.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Markit from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Cantor Fitzgerald restated a “hold” rating on shares of Markit in a report on Tuesday, May 10th. Royal Bank Of Canada boosted their target price on Markit from $30.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, March 24th. Evercore ISI lowered Markit from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Finally, Deutsche Bank AG boosted their target price on Markit from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $33.17.
The company has a market capitalization of $5.74 billion and a PE ratio of 51.11. The firm has a 50 day moving average of $32.94 and a 200-day moving average of $31.56.
Markit (NASDAQ:MRKT) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company earned $287.80 million during the quarter, compared to analyst estimates of $293.62 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Markit Ltd. will post $1.44 earnings per share for the current year.
A number of institutional investors recently bought and sold shares of MRKT. OppenheimerFunds Inc. bought a new position in Markit during the fourth quarter worth approximately $15,354,000. Janus Capital Management raised its position in Markit by 42.1% in the third quarter. Janus Capital Management now owns 5,230,132 shares of the company’s stock worth $151,674,000 after buying an additional 1,549,265 shares during the period. Stevens Capital Management LP bought a new position in Markit during the fourth quarter worth approximately $1,122,000. Finally, US Bancorp DE raised its position in Markit by 28.6% in the fourth quarter. US Bancorp DE now owns 38,883 shares of the company’s stock worth $1,173,000 after buying an additional 8,650 shares during the period.
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s business is organized in three segments: Information, Processing and Solutions.
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