Banque Cantonale Vaudoise Trims Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Banque Cantonale Vaudoise cut its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTXFree Report) by 59.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,728 shares of the financial services provider’s stock after selling 3,972 shares during the period. Banque Cantonale Vaudoise’s holdings in MarketAxess were worth $583,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MKTX. BlackRock Inc. grew its stake in shares of MarketAxess by 18.3% during the first quarter. BlackRock Inc. now owns 3,928,679 shares of the financial services provider’s stock valued at $1,537,253,000 after acquiring an additional 608,107 shares in the last quarter. Van ECK Associates Corp grew its stake in MarketAxess by 1,590.2% in the second quarter. Van ECK Associates Corp now owns 513,673 shares of the financial services provider’s stock worth $134,284,000 after purchasing an additional 483,282 shares in the last quarter. Norges Bank acquired a new position in MarketAxess in the fourth quarter worth about $110,636,000. Eagle Asset Management Inc. grew its stake in MarketAxess by 138.8% in the fourth quarter. Eagle Asset Management Inc. now owns 627,692 shares of the financial services provider’s stock worth $178,810,000 after purchasing an additional 364,829 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in MarketAxess by 273.9% in the second quarter. Alliancebernstein L.P. now owns 229,697 shares of the financial services provider’s stock worth $60,047,000 after purchasing an additional 168,263 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on MKTX shares. Morgan Stanley decreased their price target on MarketAxess from $308.00 to $284.00 and set an “equal weight” rating for the company in a research note on Friday, October 27th. Deutsche Bank Aktiengesellschaft decreased their price target on MarketAxess from $254.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, October 11th. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. William Blair reissued an “outperform” rating on shares of MarketAxess in a report on Tuesday, January 23rd. Finally, The Goldman Sachs Group cut 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $266.89.

Get Our Latest Stock Analysis on MKTX

Insider Buying and Selling at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 1,020 shares of MarketAxess stock in a transaction on Monday, November 27th. The shares were sold at an average price of $230.95, for a total value of $235,569.00. Following the completion of the sale, the executive now owns 69,879 shares of the company’s stock, valued at approximately $16,138,555.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other MarketAxess news, CRO Kevin M. Mcpherson sold 920 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $260.50, for a total transaction of $239,660.00. Following the completion of the transaction, the executive now owns 68,959 shares of the company’s stock, valued at approximately $17,963,819.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Kevin M. Mcpherson sold 1,020 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $230.95, for a total transaction of $235,569.00. Following the transaction, the executive now owns 69,879 shares in the company, valued at approximately $16,138,555.05. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

MarketAxess Price Performance

NASDAQ MKTX opened at $226.41 on Thursday. The firm has a market capitalization of $8.58 billion, a PE ratio of 33.05, a P/E/G ratio of 3.72 and a beta of 1.02. MarketAxess Holdings Inc. has a 12 month low of $200.01 and a 12 month high of $399.78. The company’s 50 day simple moving average is $267.12 and its 200 day simple moving average is $245.09.

MarketAxess (NASDAQ:MKTXGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.11. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The firm had revenue of $197.20 million for the quarter, compared to analyst estimates of $196.70 million. During the same quarter in the previous year, the business posted $1.58 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from MarketAxess’s previous quarterly dividend of $0.72. MarketAxess’s dividend payout ratio (DPR) is 42.04%.

MarketAxess Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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