Analysts forecast that MarketAxess Holdings Inc. (NASDAQ:MKTX) will announce sales of $98.70 million for the current quarter, Zacks reports. Two analysts have provided estimates for MarketAxess’ earnings. MarketAxess reported sales of $94.44 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The firm is expected to report its next earnings results before the market opens on Wednesday, January 31st.

On average, analysts expect that MarketAxess will report full year sales of $98.70 million for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report sales of $467.40 million per share, with estimates ranging from $454.50 million to $480.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover MarketAxess.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. MarketAxess’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS.

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $215.00 target price on shares of MarketAxess in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Goldman Sachs Group downgraded shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Monday, January 8th. Finally, Rosenblatt Securities assumed coverage on shares of MarketAxess in a research note on Thursday, December 14th. They issued a “neutral” rating and a $190.00 target price for the company. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $202.86.

In other MarketAxess news, Director Stephen P. Casper sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total transaction of $391,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Themelis sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total transaction of $705,600.00. The disclosure for this sale can be found here. Insiders have sold 50,225 shares of company stock valued at $8,955,630 over the last 90 days. Company insiders own 4.02% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Janus Henderson Group PLC raised its position in shares of MarketAxess by 178.5% in the second quarter. Janus Henderson Group PLC now owns 807,088 shares of the financial services provider’s stock valued at $162,306,000 after buying an additional 517,309 shares in the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of MarketAxess in the third quarter valued at approximately $75,376,000. Allianz Asset Management GmbH raised its position in shares of MarketAxess by 503.9% in the third quarter. Allianz Asset Management GmbH now owns 192,657 shares of the financial services provider’s stock valued at $35,547,000 after buying an additional 160,755 shares in the last quarter. FMR LLC raised its position in shares of MarketAxess by 36.7% in the second quarter. FMR LLC now owns 491,713 shares of the financial services provider’s stock valued at $98,883,000 after buying an additional 131,911 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of MarketAxess by 10.3% in the third quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock valued at $227,415,000 after buying an additional 115,038 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.

Shares of MarketAxess (NASDAQ:MKTX) opened at $208.39 on Friday. MarketAxess has a one year low of $154.03 and a one year high of $211.06. The stock has a market cap of $7,802.43, a PE ratio of 53.43 and a beta of 0.70.

MarketAxess announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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About MarketAxess

MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.

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