Investment Analysts’ Weekly Ratings Changes for MarketAxess (MKTX)

Several analysts have recently updated their ratings and price targets for MarketAxess (NASDAQ: MKTX):

  • 9/13/2018 – MarketAxess was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/10/2018 – MarketAxess was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “MarketAxess Holdings’ shares have underperformed the growth of its industry, year to date. Escalating costs remain a headwind for the company for quite some time, which have kept margins under pressure. Moreover, given the ongoing investments of the company in several areas, the same is going to rise in the upcoming quarters as well. The company is also exposed to foreign exchange volatility risk. Nevertheless, the growth strategy such as acquisitions and alliances, and consistent increase in commission received on trading volumes have led to revenue growth. Its solid inorganic growth is also a positive on the back of a strong financial position.”
  • 9/7/2018 – MarketAxess is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $200.00 price target on the stock.
  • 8/31/2018 – MarketAxess was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/7/2018 – MarketAxess was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/1/2018 – MarketAxess is now covered by analysts at Jefferies Financial Group Inc. They set a “hold” rating and a $219.00 price target on the stock.
  • 7/26/2018 – MarketAxess was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/26/2018 – MarketAxess had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $210.00 price target on the stock.
  • 7/26/2018 – MarketAxess was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/24/2018 – MarketAxess is now covered by analysts at Compass Point. They set a “neutral” rating and a $205.00 price target on the stock.
  • 7/20/2018 – MarketAxess was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/16/2018 – MarketAxess was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of MKTX stock opened at $183.30 on Friday. MarketAxess Holdings Inc. has a 1-year low of $171.45 and a 1-year high of $229.84. The firm has a market cap of $6.93 billion, a PE ratio of 47.00, a price-to-earnings-growth ratio of 8.43 and a beta of 0.50.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. MarketAxess had a return on equity of 29.49% and a net margin of 37.33%. The business had revenue of $106.96 million for the quarter, compared to the consensus estimate of $106.41 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. MarketAxess’s revenue for the quarter was up 11.1% compared to the same quarter last year. analysts expect that MarketAxess Holdings Inc. will post 4.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.92%. MarketAxess’s dividend payout ratio is 43.08%.

In other MarketAxess news, CEO Richard M. Mcvey sold 23,014 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $189.16, for a total value of $4,353,328.24. Following the transaction, the chief executive officer now owns 1,054,743 shares in the company, valued at $199,515,185.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard M. Mcvey sold 10,959 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $189.31, for a total value of $2,074,648.29. Following the completion of the transaction, the chief executive officer now owns 1,054,743 shares in the company, valued at approximately $199,673,397.33. The disclosure for this sale can be found here. Insiders have sold 66,804 shares of company stock worth $12,555,086 in the last quarter. 3.52% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its stake in MarketAxess by 32.2% in the second quarter. State of Alaska Department of Revenue now owns 4,470 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 1,090 shares in the last quarter. BlackRock Inc. grew its stake in MarketAxess by 3.6% in the second quarter. BlackRock Inc. now owns 3,411,494 shares of the financial services provider’s stock valued at $674,996,000 after purchasing an additional 117,686 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in MarketAxess by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 141,875 shares of the financial services provider’s stock valued at $30,850,000 after purchasing an additional 8,059 shares in the last quarter. M&T Bank Corp grew its stake in MarketAxess by 25.4% in the first quarter. M&T Bank Corp now owns 2,754 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 557 shares in the last quarter. Finally, Suntrust Banks Inc. grew its stake in MarketAxess by 3.1% in the first quarter. Suntrust Banks Inc. now owns 26,652 shares of the financial services provider’s stock valued at $5,793,000 after purchasing an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 99.98% of the company’s stock.

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.

See Also: Outstanding Shares and The Effect on Share Price

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