Markit Ltd. (INFO) Sees Strong Trading Volume
Markit Ltd. (NASDAQ:INFO) shares saw unusually-strong trading volume on Friday . Approximately 2,277,784 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 2,855,081 shares.The stock last traded at $35.58 and had previously closed at $36.20.
Several equities analysts have weighed in on INFO shares. Deutsche Bank AG raised Markit from a “hold” rating to a “buy” rating and increased their target price for the company from $37.00 to $42.00 in a research note on Friday, July 15th. Bank of America Corp. started coverage on Markit in a research note on Friday, July 15th. They issued a “buy” rating and a $40.00 target price on the stock. TheStreet raised Markit from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. BMO Capital Markets reissued a “buy” rating and issued a $41.00 target price on shares of Markit in a research note on Monday. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Markit in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $37.75.
The stock has a 50-day moving average price of $33.26 and a 200-day moving average price of $31.82. The stock has a market capitalization of $6.26 billion and a price-to-earnings ratio of 55.79.
Markit (NASDAQ:INFO) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. The company earned $287.80 million during the quarter, compared to analyst estimates of $293.62 million. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. Analysts anticipate that Markit Ltd. will post $1.75 EPS for the current year.
In other Markit news, EVP Jonathan Gear sold 15,000 shares of Markit stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $36.00, for a total transaction of $540,000.00. Following the transaction, the executive vice president now directly owns 319,287 shares of the company’s stock, valued at approximately $11,494,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michele Louise Trogni sold 7,150 shares of Markit stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $35.66, for a total value of $254,969.00. Following the transaction, the executive vice president now directly owns 53,138 shares in the company, valued at $1,894,901.08. 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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