Traders Buy Shares of Markit Ltd. (INFO) on Weakness
Investors purchased shares of Markit Ltd. (NASDAQ:INFO) on weakness during trading on Tuesday. $124.34 million flowed into the stock on the tick-up and $5.32 million flowed out of the stock on the tick-down, for a money net flow of $119.02 million into the stock. Of all stocks tracked, Markit had the highest net in-flow for the day. Markit traded down ($0.08) for the day and closed at $35.03
Several brokerages have commented on INFO. Barclays PLC raised their target price on shares of Markit from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, July 25th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $38.00 price objective on shares of Markit in a report on Friday, July 22nd. William Blair reiterated an “outperform” rating on shares of Markit in a report on Sunday, July 17th. Royal Bank Of Canada upgraded shares of Markit from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $42.00 in a report on Thursday, July 21st. Finally, RBC Capital Markets upgraded shares of Markit from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $42.00 in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.02.
The company has a market capitalization of $6.15 billion and a PE ratio of 54.82. The company has a 50-day moving average price of $33.92 and a 200-day moving average price of $32.48.
In other Markit news, EVP Michele Louise Trogni sold 7,150 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $35.66, for a total transaction of $254,969.00. Following the transaction, the executive vice president now directly owns 53,138 shares in the company, valued at approximately $1,894,901.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William E. Ford sold 7,001,911 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total value 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.