Markit Ltd. (INFO) Sets New 12-Month High at $37.50
Markit Ltd. (NASDAQ:INFO) shares reached a new 52-week high on Thursday . The stock traded as high as $37.50 and last traded at $36.87, with a volume of 927,113 shares traded. The stock had previously closed at $37.32.
Several research analysts have recently weighed in on INFO shares. Bank of America Corp. started coverage on Markit in a research report on Friday, July 15th. They issued a “buy” rating and a $40.00 price objective for the company. Royal Bank Of Canada raised Markit from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $42.00 in a research report on Thursday, July 21st. RBC Capital Markets raised Markit from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $42.00 in a research report on Thursday, July 21st. Morgan Stanley assumed coverage on Markit in a research report on Friday, July 15th. They issued an “underweight” rating for the company. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Markit in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.63.
The firm has a market cap of $6.48 billion and a PE ratio of 57.75. The firm has a 50-day moving average price of $35.67 and a 200 day moving average price of $33.40.
In other news, EVP Shane Akeroyd sold 50,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $35.28, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president now directly owns 90,706 shares in the company, valued at $3,200,107.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William E. Ford sold 7,001,911 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total transaction of $249,898,203.59. 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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