Keefe, Bruyette & Woods Cuts MarketAxess (NASDAQ:MKTX) Price Target to $251.00

MarketAxess (NASDAQ:MKTXFree Report) had its price target reduced by Keefe, Bruyette & Woods from $255.00 to $251.00 in a report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other analysts have also commented on the stock. Barclays reduced their price target on shares of MarketAxess from $260.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Monday. The Goldman Sachs Group lifted their target price on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Piper Sandler decreased their price objective on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Bank of America cut their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $261.30.

View Our Latest Stock Report on MarketAxess

MarketAxess Trading Up 0.7 %

NASDAQ MKTX opened at $216.89 on Monday. MarketAxess has a twelve month low of $192.42 and a twelve month high of $296.68. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 9.49 and a beta of 1.03. The stock has a 50-day moving average of $246.71 and a 200 day moving average of $246.17.

MarketAxess (NASDAQ:MKTXGet Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. Equities analysts predict that MarketAxess will post 7.38 EPS for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is currently 40.11%.

Insiders Place Their Bets

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total value of $2,676,700.00. Following the completion of the transaction, the chairman now directly owns 562,029 shares in the company, valued at approximately $150,438,302.43. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,300 shares of company stock worth $8,183,871. 2.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On MarketAxess

A number of hedge funds have recently made changes to their positions in MKTX. Pallas Capital Advisors LLC purchased a new position in shares of MarketAxess in the 4th quarter worth about $258,000. Czech National Bank raised its stake in shares of MarketAxess by 6.3% in the 4th quarter. Czech National Bank now owns 8,175 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 485 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of MarketAxess by 13.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,126 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 135 shares in the last quarter. First Hawaiian Bank bought a new position in shares of MarketAxess in the 4th quarter worth about $1,088,000. Finally, Nordea Investment Management AB grew its holdings in shares of MarketAxess by 461.5% during the fourth quarter. Nordea Investment Management AB now owns 57,876 shares of the financial services provider’s stock valued at $13,041,000 after purchasing an additional 47,568 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

About MarketAxess

(Get Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.

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