Barclays Cuts MarketAxess (NASDAQ:MKTX) Price Target to $256.00

MarketAxess (NASDAQ:MKTX) had its target price reduced by Barclays from $260.00 to $256.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on MKTX. Morgan Stanley increased their target price on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler decreased their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group upped their price target on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price objective on MarketAxess from $276.00 to $255.00 and set a “market perform” rating on the stock in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $261.30.

MarketAxess Trading Up 0.5 %

Shares of MKTX opened at $217.82 on Monday. The stock has a 50 day moving average of $242.90 and a 200 day moving average of $246.20. MarketAxess has a 12 month low of $192.42 and a 12 month high of $296.68. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 9.49 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million for 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 firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities research analysts predict that MarketAxess will post 7.38 earnings per share for the current year.

Insider Transactions at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the sale, the chairman now directly owns 562,029 shares in the company, valued at $150,438,302.43. This represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, 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 ninety days, insiders have sold 30,300 shares of company stock valued at $8,183,871. 2.66% of the stock is currently owned by corporate insiders.

Institutional Trading of MarketAxess

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC bought a new position in shares of MarketAxess in the second quarter worth approximately $881,000. Acadian Asset Management LLC purchased a new position in MarketAxess in the 2nd quarter worth approximately $236,000. Oppenheimer Asset Management Inc. increased its holdings in shares of MarketAxess by 40.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,835 shares of the financial services provider’s stock worth $2,774,000 after buying an additional 3,963 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MarketAxess by 49.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 323,064 shares of the financial services provider’s stock valued at $64,784,000 after buying an additional 107,315 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of MarketAxess by 3,066.1% during the 2nd quarter. Renaissance Technologies LLC now owns 164,636 shares of the financial services provider’s stock worth $33,014,000 after acquiring an additional 159,436 shares during the last quarter. Hedge funds and other 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.