Markit Ltd. (INFO) CEO Sells $5,387,030.88 in Stock
Markit Ltd. (NASDAQ:INFO) CEO Jerre L. Stead sold 145,753 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $36.96, for a total transaction of $5,387,030.88. Following the completion of the sale, the chief executive officer now directly owns 587,627 shares of the company’s stock, valued at approximately $21,718,693.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Markit Ltd. (NASDAQ:INFO) opened at 37.52 on Tuesday. The stock’s 50 day moving average is $36.77 and its 200 day moving average is $34.81. Markit Ltd. has a 12 month low of $26.01 and a 12 month high of $37.83. The firm has a market cap of $6.59 billion, a PE ratio of 58.72 and a beta of 0.94.
Markit (NASDAQ:INFO) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Markit had a return on equity of 10.66% and a net margin of 4.06%. The firm earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities analysts forecast that Markit Ltd. will post $1.75 earnings per share for the current year.
Several brokerages recently commented on INFO. Deutsche Bank AG raised shares of Markit to a “buy” rating in a report on Sunday, July 17th. William Blair reissued an “outperform” rating on shares of Markit in a report on Sunday, July 17th. BMO Capital Markets reissued a “buy” rating and issued a $41.00 price target on shares of Markit in a report on Monday, July 18th. Zacks Investment Research raised shares of Markit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $35.00 price target on shares of Markit in a report on Monday, July 18th. Two investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $39.08.
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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