Brokerages Set MarketAxess Holdings Inc. (NASDAQ:MKTX) Target Price at $528.78

MarketAxess Holdings Inc. (NASDAQ:MKTX) has been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $532.00.

MKTX has been the subject of several research analyst reports. Raymond James reduced their price target on shares of MarketAxess from $580.00 to $530.00 and set an “outperform” rating for the company in a report on Wednesday, July 7th. Piper Sandler reduced their price target on shares of MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, July 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. Morgan Stanley reduced their price target on shares of MarketAxess from $470.00 to $459.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Rosenblatt Securities reduced their price target on shares of MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a report on Thursday, June 3rd.

In other MarketAxess news, insider Kevin M. Mcpherson sold 5,000 shares of the stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $476.53, for a total value of $2,382,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin M. Mcpherson sold 535 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $474.02, for a total transaction of $253,600.70. Following the completion of the transaction, the insider now directly owns 71,623 shares in the company, valued at $33,950,734.46. The disclosure for this sale can be found here. Insiders have sold 17,902 shares of company stock valued at $8,631,608 in the last 90 days. 2.19% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MKTX. FMR LLC raised its position in shares of MarketAxess by 128.2% in the first quarter. FMR LLC now owns 127,669 shares of the financial services provider’s stock valued at $31,417,000 after purchasing an additional 71,732 shares during the period. CWM LLC increased its position in MarketAxess by 79.8% during the first quarter. CWM LLC now owns 178 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 79 shares during the period. DekaBank Deutsche Girozentrale increased its position in MarketAxess by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,411 shares of the financial services provider’s stock worth $1,684,000 after acquiring an additional 530 shares during the period. Handelsbanken Fonder AB increased its position in MarketAxess by 4.5% during the first quarter. Handelsbanken Fonder AB now owns 6,944 shares of the financial services provider’s stock worth $3,458,000 after acquiring an additional 300 shares during the period. Finally, PGGM Investments increased its holdings in MarketAxess by 7.2% in the 1st quarter. PGGM Investments now owns 1,682 shares of the financial services provider’s stock valued at $838,000 after buying an additional 113 shares during the period. 94.39% of the stock is currently owned by institutional investors.

NASDAQ:MKTX traded down $0.45 during trading hours on Wednesday, hitting $425.79. The stock had a trading volume of 203,060 shares, compared to its average volume of 258,361. MarketAxess has a one year low of $420.79 and a one year high of $606.45. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 56.26 and a beta of 0.36. The business’s 50 day moving average is $467.20 and its 200-day moving average is $479.61.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, July 20th. The financial services provider reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. MarketAxess had a net margin of 40.79% and a return on equity of 29.87%. The firm had revenue of $176.30 million during the quarter, compared to the consensus estimate of $177.56 million. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that MarketAxess will post 7.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 18th. Investors of record on Wednesday, August 4th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.62%. The ex-dividend date was Tuesday, August 3rd. MarketAxess’s payout ratio is 33.63%.

About MarketAxess

MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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