abrdn plc decreased its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) by 19.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,395 shares of the financial services provider’s stock after selling 2,449 shares during the period. abrdn plc’s holdings in MarketAxess were worth $3,649,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in MarketAxess by 2.3% during the 1st quarter. Arizona State Retirement System now owns 10,585 shares of the financial services provider’s stock worth $3,601,000 after buying an additional 239 shares in the last quarter. Metis Global Partners LLC acquired a new position in MarketAxess during the 1st quarter valued at about $205,000. Tandem Investment Advisors Inc. lifted its position in MarketAxess by 34.7% during the 1st quarter. Tandem Investment Advisors Inc. now owns 106,356 shares of the financial services provider’s stock valued at $36,182,000 after purchasing an additional 27,400 shares during the period. Mutual of America Capital Management LLC lifted its position in MarketAxess by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 5,074 shares of the financial services provider’s stock valued at $1,726,000 after purchasing an additional 53 shares during the period. Finally, Geneva Capital Management LLC lifted its position in MarketAxess by 97.5% during the 1st quarter. Geneva Capital Management LLC now owns 3,725 shares of the financial services provider’s stock valued at $1,267,000 after purchasing an additional 1,839 shares during the period. Institutional investors and hedge funds own 96.50% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on MKTX. Piper Sandler cut their target price on shares of MarketAxess from $300.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, July 1st. Raymond James downgraded shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Compass Point raised MarketAxess from a “sell” rating to a “neutral” rating and set a $275.00 price target for the company in a research note on Thursday, April 21st. Atlantic Securities lowered their price target on MarketAxess from $340.00 to $306.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on MarketAxess from $284.00 to $286.00 in a research note on Thursday, July 21st. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, MarketAxess presently has an average rating of “Hold” and a consensus target price of $327.56.
Insider Transactions at MarketAxess
MarketAxess Stock Performance
NASDAQ MKTX opened at $270.78 on Monday. The business has a 50 day simple moving average of $270.11 and a 200 day simple moving average of $306.13. MarketAxess Holdings Inc. has a 52-week low of $249.01 and a 52-week high of $498.97. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 42.44 and a beta of 0.59.
MarketAxess (NASDAQ:MKTX – Get Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The business had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $185.24 million. During the same period in the prior year, the business earned $1.77 EPS. MarketAxess’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that MarketAxess Holdings Inc. will post 6.75 EPS for the current year.
MarketAxess Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. MarketAxess’s dividend payout ratio is currently 43.89%.
MarketAxess Company Profile
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.
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