MarketAxess (NASDAQ:MKTX) PT Lowered to $237.00 at Piper Sandler

MarketAxess (NASDAQ:MKTX) had its target price trimmed by Piper Sandler from $250.00 to $237.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Bank of America began coverage on shares of MarketAxess in a research report on Wednesday, April 10th. They set an underperform rating and a $199.00 target price on the stock. Morgan Stanley boosted their price target on MarketAxess from $278.00 to $279.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. The Goldman Sachs Group decreased their target price on shares of MarketAxess from $263.00 to $225.00 and set a neutral rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities cut their price target on shares of MarketAxess from $229.00 to $210.00 and set a sell rating for the company in a report on Thursday, February 1st. Finally, William Blair reaffirmed an outperform rating on shares of MarketAxess in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $252.80.

MarketAxess Stock Performance

Shares of MKTX opened at $204.94 on Friday. The firm has a market cap of $7.76 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 4.45 and a beta of 0.98. MarketAxess has a 52 week low of $200.01 and a 52 week high of $341.92. The firm’s 50-day simple moving average is $218.10 and its 200 day simple moving average is $237.94.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.11. The business had revenue of $197.20 million during the quarter, compared to the consensus estimate of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 EPS. As a group, equities analysts forecast that MarketAxess will post 7.28 earnings per share for the current year.

MarketAxess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.74 dividend. The ex-dividend date was Tuesday, February 13th. This is an increase from MarketAxess’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.44%. MarketAxess’s dividend payout ratio (DPR) is currently 43.21%.

Insider Transactions at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $221.26, for a total value of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares in the company, valued at approximately $15,508,555.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Large investors have recently modified their holdings of the business. Nordea Investment Management AB raised its position in MarketAxess by 316.1% during the 4th quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock worth $3,367,000 after purchasing an additional 8,771 shares during the last quarter. Norris Perne & French LLP MI bought a new stake in MarketAxess in the fourth quarter valued at approximately $9,715,000. Rhumbline Advisers increased its position in MarketAxess by 3.4% during the 3rd quarter. Rhumbline Advisers now owns 91,847 shares of the financial services provider’s stock valued at $19,622,000 after purchasing an additional 3,024 shares during the period. Royal Bank of Canada raised its holdings in MarketAxess by 2.0% during the 3rd quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after purchasing an additional 33,288 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of MarketAxess by 339.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 38,630 shares of the financial services provider’s stock worth $8,253,000 after purchasing an additional 29,830 shares during the period. Institutional investors own 99.01% of the company’s stock.

MarketAxess Company Profile

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.