Markit Ltd. (INFO) Sees Strong Trading Volume
Markit Ltd. (NASDAQ:INFO) saw strong trading volume on Friday . 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.
A number of equities research analysts have recently issued reports on the stock. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $38.00 price target on shares of Markit in a report on Friday. TheStreet downgraded shares of Markit from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Bank of America Corp. assumed coverage on shares of Markit in a report on Friday, July 15th. They issued a “buy” rating and a $40.00 price target on the stock. Credit Suisse Group AG reissued a “neutral” rating and issued a $37.00 price target on shares of Markit in a report on Friday, July 15th. Finally, Deutsche Bank AG raised shares of Markit from a “hold” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $37.75.
The firm has a market cap of $6.26 billion and a price-to-earnings ratio of 55.79. The company’s 50-day moving average price is $33.31 and its 200 day moving average price is $31.87.
Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.35 earnings per share (EPS) 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 analyst estimates of $293.62 million. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, equities analysts predict that Markit Ltd. will post $1.75 EPS for the current fiscal year.
In related news, Director William E. Ford sold 7,001,911 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total transaction of $249,898,203.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele Louise Trogni sold 7,150 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $35.66, for a total value of $254,969.00. Following the transaction, the executive vice president now owns 53,138 shares of the company’s stock, 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.