Markit Ltd. (INFO) Stock Price Up 2.3%
Markit Ltd. (NASDAQ:INFO) shares rose 2.3% during mid-day trading on Tuesday . The stock traded as high as $36.04 and last traded at $36.01, with a volume of 1,928,925 shares trading hands. The stock had previously closed at $35.20.
INFO has been the topic of several recent analyst reports. Deutsche Bank AG raised Markit from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a research report on Friday, July 15th. Bank of America Corp. started coverage on Markit in a research report on Friday, July 15th. They set a “buy” rating and a $40.00 target price on the stock. TheStreet upgraded Markit from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. BMO Capital Markets reiterated a “buy” rating and set a $41.00 price target on shares of Markit in a research note on Monday. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Markit in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Markit currently has an average rating of “Hold” and a consensus target price of $37.72.
The company has a 50 day moving average price of $33.19 and a 200 day moving average price of $31.79. The company has a market cap of $6.26 billion and a PE ratio of 55.81.
Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. The business earned $287.80 million during the quarter, compared to the consensus estimate of $293.62 million. Markit’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Analysts expect that Markit Ltd. will post $1.75 EPS for the current fiscal year.
In other Markit news, CEO Jerre L. Stead sold 70,000 shares of the firm’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $35.05, for a total value of $2,453,500.00. Following the sale, the chief executive officer now directly owns 843,380 shares in the company, valued at $29,560,469. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Gear sold 15,000 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $36.00, for a total value of $540,000.00. Following the completion of the sale, the executive vice president now owns 319,287 shares in the company, valued at $11,494,332. 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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