Several other research firms have also issued reports on INFO. Deutsche Bank AG raised shares of Markit from a hold rating to a buy rating and increased their target price for the stock from $37.00 to $42.00 in a research note on Friday, July 15th. Zacks Investment Research raised shares of Markit from a strong sell rating to a hold rating in a research note on Wednesday, July 13th. TheStreet lowered shares of Markit from a buy rating to a hold rating in a research note on Wednesday, July 13th. Cantor Fitzgerald reissued a hold rating on shares of Markit in a research note on Friday, August 19th. Finally, William Blair reissued an outperform rating on shares of Markit in a research note on Sunday, July 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $39.08.
Shares of Markit (NASDAQ:INFO) traded down 0.38% during midday trading on Wednesday, reaching $36.64. The company’s stock had a trading volume of 98,734 shares. Markit has a 52 week low of $26.01 and a 52 week high of $37.83. The stock has a market capitalization of $6.44 billion, a PE ratio of 57.34 and a beta of 0.94. The company has a 50 day moving average price of $36.58 and a 200-day moving average price of $34.59.
Markit (NASDAQ:INFO) last announced its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $724.60 million for the quarter, compared to the consensus estimate of $557.90 million. Markit had a return on equity of 10.66% and a net margin of 4.06%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts expect that Markit will post $1.76 EPS for the current year.
In related news, Director William E. Ford sold 7,001,911 shares of Markit stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $35.69, for a total value of $249,898,203.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerre L. Stead sold 70,000 shares of Markit stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $35.05, for a total transaction of $2,453,500.00. Following the completion of the sale, the chief executive officer now owns 843,380 shares of the company’s stock, valued at approximately $29,560,469. The disclosure for this sale can be found here.
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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