Markit Ltd. (NASDAQ:INFO)’s share price fell 1.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $36.32 and last traded at $36.36, with a volume of 1,088,816 shares changing hands. The stock had previously closed at $37.00.
Specifically, EVP Shane Akeroyd sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $35.04, for a total value of $525,600.00. Following the completion of the sale, the executive vice president now directly owns 80,706 shares of the company’s stock, valued at $2,827,938.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,894,294.72. Following the completion of the sale, the insider now directly owns 492,509 shares of the company’s stock, valued at $18,464,162.41. The disclosure for this sale can be found here.
Several research firms have commented on INFO. William Blair reissued an “outperform” rating on shares of Markit in a research report on Sunday, July 17th. Deutsche Bank AG raised shares of Markit to a “buy” rating in a research report on Sunday, July 17th. Barclays PLC boosted their price objective on shares of Markit from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of Markit from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Credit Suisse Group AG restated a “neutral” rating and issued a $37.00 price objective on shares of Markit in a research note on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $39.08.
The stock’s 50 day moving average is $36.86 and its 200 day moving average is $34.88. The firm has a market cap of $6.46 billion, a PE ratio of 57.51 and a beta of 0.94.
Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Markit had a net margin of 4.06% and a return on equity of 10.66%. The business earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. During the same period last year, the business earned $0.36 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. On average, equities research analysts forecast that Markit Ltd. will post $1.75 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Markit stock. BNP Paribas Arbitrage SA bought a new stake in shares of Markit Ltd. (NASDAQ:INFO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,670 shares of the company’s stock, valued at approximately $551,000. Institutional investors own 54.26% of the company’s stock.
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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