Markit Ltd. (INFO) Vice Chairman Daniel Yergin Sells 50,528 Shares of Stock
Markit Ltd. (NASDAQ:INFO) Vice Chairman Daniel Yergin sold 50,528 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $37.49, for a total value of $1,894,294.72. Following the sale, the insider now owns 492,509 shares of the company’s stock, valued at $18,464,162.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Markit Ltd. (NASDAQ:INFO) opened at 36.75 on Thursday. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 57.51 and a beta of 0.94. The company’s 50-day moving average price is $36.86 and its 200 day moving average price is $34.88. Markit Ltd. has a 1-year low of $26.01 and a 1-year high of $37.83.
Markit (NASDAQ:INFO) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. Markit had a return on equity of 10.66% and a net margin of 4.06%. Markit’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Markit Ltd. will post $1.75 earnings per share for the current fiscal year.
INFO has been the subject of several research reports. Bank of America Corp. initiated coverage on Markit in a research report on Friday, July 15th. They set a “buy” rating and a $40.00 price target for the company. Royal Bank Of Canada upgraded Markit from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $42.00 in a research report on Thursday, July 21st. RBC Capital Markets upgraded Markit from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $42.00 in a research report on Thursday, July 21st. Morgan Stanley initiated coverage on Markit in a research report on Friday, July 15th. They set an “underweight” rating for the company. Finally, Zacks Investment Research upgraded Markit from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Monday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Markit has an average rating of “Hold” and an average target price of $39.08.
A hedge fund recently bought a new stake in Markit stock. BNP Paribas Arbitrage SA purchased a new stake in Markit Ltd. (NASDAQ:INFO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,670 shares of the company’s stock, valued at approximately $551,000. 54.26% of the stock is currently owned by institutional investors and hedge funds.
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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