MarketAxess (NASDAQ:MKTX) Given New $264.00 Price Target at Deutsche Bank Aktiengesellschaft

MarketAxess (NASDAQ:MKTX) had its price target lifted by Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a research note published on Monday,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of MarketAxess in a research note on Thursday, November 7th. Bank of America decreased their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Finally, Morgan Stanley lifted their price objective on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MarketAxess has an average rating of “Hold” and an average price target of $267.50.

MarketAxess Price Performance

MKTX opened at $264.98 on Monday. MarketAxess has a 12 month low of $192.42 and a 12 month high of $297.97. The business has a 50 day simple moving average of $272.39 and a 200-day simple moving average of $235.13. The stock has a market capitalization of $9.99 billion, a P/E ratio of 35.91, a P/E/G ratio of 12.06 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Research analysts anticipate that MarketAxess will post 7.33 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.96 annualized dividend and a yield of 1.12%. MarketAxess’s dividend payout ratio (DPR) is 40.11%.

MarketAxess announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of MarketAxess stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the sale, the chairman now owns 562,029 shares of the company’s stock, valued at $150,438,302.43. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.66% of the stock is currently owned by company insiders.

Institutional Trading of MarketAxess

A number of hedge funds and other institutional investors have recently made changes to their positions in MKTX. Kingsview Wealth Management LLC bought a new position in shares of MarketAxess in the first quarter valued at $7,866,000. SG Americas Securities LLC grew its position in MarketAxess by 174.2% in the first quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 4,284 shares in the last quarter. Entropy Technologies LP bought a new stake in MarketAxess in the first quarter worth $882,000. ProShare Advisors LLC increased its holdings in shares of MarketAxess by 48.4% during the 1st quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider’s stock valued at $2,547,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Natixis acquired a new position in MarketAxess during the first quarter valued at approximately $842,000. 99.01% of the stock is currently owned by institutional investors.

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.