Markit Ltd. (INFO) CEO Jerre L. Stead Sells 145,753 Shares
Markit Ltd. (NASDAQ:INFO) CEO Jerre L. Stead sold 145,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $36.96, for a total value of $5,387,030.88. Following the completion of the transaction, the chief executive officer now directly owns 587,627 shares in the company, valued at $21,718,693.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Markit Ltd. (NASDAQ:INFO) opened at 37.00 on Wednesday. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 57.90 and a beta of 0.94. The company has a 50-day moving average price of $36.82 and a 200 day moving average price of $34.86. Markit Ltd. has a 52 week low of $26.01 and a 52 week high of $37.83.
Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Markit had a return on equity of 10.66% and a net margin of 4.06%. The company earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. Analysts expect that Markit Ltd. will post $1.75 EPS for the current fiscal year.
Several research analysts have commented on the company. Zacks Investment Research downgraded Markit from a “buy” rating to a “sell” rating in a research report on Friday, September 30th. RBC Capital Markets set a $42.00 price target on Markit and gave the stock a “buy” rating in a research report on Wednesday, September 28th. TheStreet downgraded Markit from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Morgan Stanley set a $34.00 price target on Markit and gave the stock a “sell” rating in a research report on Wednesday, September 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $41.00 price target on shares of Markit in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.08.
Markit Company Profile
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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