Burgundy Asset Management Ltd. Has $127.26 Million Position in MarketAxess Holdings Inc. $MKTX

Burgundy Asset Management Ltd. grew its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 67.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,216 shares of the financial services provider’s stock after acquiring an additional 277,846 shares during the period. Burgundy Asset Management Ltd. owned 1.85% of MarketAxess worth $127,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp boosted its position in MarketAxess by 1.8% during the third quarter. Fifth Third Bancorp now owns 3,323 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 60 shares during the last quarter. Claret Asset Management Corp boosted its holdings in shares of MarketAxess by 6.6% in the 2nd quarter. Claret Asset Management Corp now owns 1,059 shares of the financial services provider’s stock valued at $236,000 after buying an additional 66 shares during the last quarter. Benedict Financial Advisors Inc. boosted its holdings in shares of MarketAxess by 4.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 1,602 shares of the financial services provider’s stock valued at $358,000 after buying an additional 66 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of MarketAxess by 4.2% in the third quarter. Jones Financial Companies Lllp now owns 1,676 shares of the financial services provider’s stock valued at $302,000 after buying an additional 67 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its holdings in MarketAxess by 1.7% during the second quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider’s stock worth $939,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Down 2.1%

Shares of MarketAxess stock opened at $189.46 on Thursday. The firm’s 50-day moving average price is $176.24 and its two-hundred day moving average price is $175.10. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 4.21 and a beta of 0.93. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. MarketAxess Holdings Inc. has a 12-month low of $156.17 and a 12-month high of $232.84.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The firm had revenue of $209.41 million for the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, February 18th. This is a positive change from MarketAxess’s previous quarterly dividend of $0.76. MarketAxess’s dividend payout ratio is 46.85%.

Wall Street Analysts Forecast Growth

MKTX has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of MarketAxess from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler reduced their price target on MarketAxess from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Zacks Research upgraded MarketAxess from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Barclays reduced their target price on MarketAxess from $182.00 to $178.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $200.40.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.