MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives $238.60 Consensus PT from Brokerages

MarketAxess Holdings Inc. (NASDAQ:MKTX) has received a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $238.60.

A number of research analysts have recently issued reports on MKTX shares. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of MarketAxess in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Barclays lowered their price target on MarketAxess from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th.

MarketAxess Stock Up 0.7 %

Shares of NASDAQ MKTX opened at $259.00 on Thursday. MarketAxess has a 12-month low of $192.42 and a 12-month high of $297.97. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.82 billion, a PE ratio of 38.03, a P/E/G ratio of 5.99 and a beta of 1.07. The company’s fifty day simple moving average is $232.34 and its 200 day simple moving average is $216.90.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The business had revenue of $197.70 million for the quarter, compared to the consensus estimate of $198.07 million. During the same period in the prior year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that MarketAxess will post 7.06 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, August 21st. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s dividend payout ratio (DPR) is currently 43.47%.

MarketAxess announced that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $231.63, for a total transaction of $142,915.71. Following the sale, the insider now owns 7,409 shares of the company’s stock, valued at approximately $1,716,146.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MarketAxess

Several large investors have recently added to or reduced their stakes in the business. Retirement Planning Co of New England Inc. raised its holdings in MarketAxess by 2.9% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 44 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in MarketAxess by 1.0% in the first quarter. Yousif Capital Management LLC now owns 5,137 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 52 shares during the period. Nisa Investment Advisors LLC boosted its position in MarketAxess by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock valued at $1,479,000 after acquiring an additional 52 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of MarketAxess by 155.8% during the 4th quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 67 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of MarketAxess by 4.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

About MarketAxess

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.