MarketAxess (NASDAQ:MKTX) Given New $230.00 Price Target at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX) had its price objective cut by Keefe, Bruyette & Woods from $235.00 to $230.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

MKTX has been the topic of several other reports. Piper Sandler lowered their target price on MarketAxess from $250.00 to $237.00 and set a neutral rating on the stock in a research note on Friday, April 12th. William Blair reissued an outperform rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Barclays reduced their target price on shares of MarketAxess from $239.00 to $236.00 and set an equal weight rating for the company in a research note on Monday, April 8th. Morgan Stanley boosted their price target on shares of MarketAxess from $278.00 to $279.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, Rosenblatt Securities lowered their price objective on MarketAxess from $229.00 to $210.00 and set a sell rating on the stock in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $249.73.

MarketAxess Stock Up 0.7 %

NASDAQ:MKTX opened at $202.21 on Wednesday. The company has a market capitalization of $7.60 billion, a PE ratio of 29.52, a P/E/G ratio of 4.26 and a beta of 0.98. MarketAxess has a 52-week low of $198.01 and a 52-week high of $303.85. The stock’s 50 day moving average price is $213.04 and its 200 day moving average price is $234.73.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.07. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. During the same period last year, the firm posted $1.96 EPS. MarketAxess’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that MarketAxess will post 7.28 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a yield of 1.46%. MarketAxess’s payout ratio is 43.21%.

Insider Buying and Selling at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MKTX. Bank of New York Mellon Corp lifted its position in shares of MarketAxess by 19.8% in the third quarter. Bank of New York Mellon Corp now owns 418,104 shares of the financial services provider’s stock valued at $89,324,000 after acquiring an additional 69,165 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MarketAxess by 7.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,456 shares of the financial services provider’s stock valued at $3,088,000 after purchasing an additional 954 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of MarketAxess by 2.3% during the 3rd quarter. Mackenzie Financial Corp now owns 2,851 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 65 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of MarketAxess by 7.8% during the third quarter. IFM Investors Pty Ltd now owns 6,901 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 500 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of MarketAxess by 18.0% in the third quarter. Inspire Investing LLC now owns 5,839 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 891 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.