Markit Ltd. (INFO) Reaches New 1-Year High at $36.83
Markit Ltd. (NASDAQ:INFO)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.83 and last traded at $36.16, with a volume of 1,729,256 shares trading hands. The stock had previously closed at $35.66.
INFO has been the subject of several research analyst reports. Deutsche Bank AG raised shares of Markit from a “hold” rating to a “buy” rating and boosted their price target for the company from $37.00 to $42.00 in a report on Friday, July 15th. Zacks Investment Research raised shares of Markit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. TheStreet lowered shares of Markit from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Royal Bank Of Canada boosted their price objective on shares of Markit from $30.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, March 24th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Markit in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Markit has an average rating of “Hold” and a consensus price target of $37.72.
The firm has a market cap of $6.41 billion and a PE ratio of 57.12. The company has a 50 day moving average of $33.19 and a 200 day moving average of $31.79.
Markit (NASDAQ:INFO) last posted its quarterly earnings data 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 firm had revenue of $287.80 million for the quarter, compared to the consensus estimate of $293.62 million. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Markit Ltd. will post $1.75 earnings per share for the current fiscal year.
In other news, EVP Jonathan Gear sold 15,000 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $36.00, for a total transaction of $540,000.00. Following the completion of the sale, the executive vice president now directly owns 319,287 shares in the company, valued at $11,494,332. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jerre L. Stead sold 70,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $35.05, for a total transaction of $2,453,500.00. Following the sale, the chief executive officer now owns 843,380 shares of the company’s stock, valued at $29,560,469. The disclosure for this sale can be found here.
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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