Federated Hermes Inc. Decreases Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Federated Hermes Inc. cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 90.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,277 shares of the financial services provider’s stock after selling 62,541 shares during the period. Federated Hermes Inc.’s holdings in MarketAxess were worth $1,838,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in MarketAxess by 347.6% during the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after buying an additional 73 shares during the last quarter. Gladius Capital Management LP raised its stake in MarketAxess by 39.6% during the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after buying an additional 38 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in MarketAxess by 47.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after buying an additional 43 shares during the last quarter. CVA Family Office LLC purchased a new stake in MarketAxess during the 4th quarter valued at $50,000. Finally, Covestor Ltd raised its stake in MarketAxess by 32.0% during the 3rd quarter. Covestor Ltd now owns 462 shares of the financial services provider’s stock valued at $99,000 after buying an additional 112 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MKTX. The Goldman Sachs Group cut their price objective on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Piper Sandler cut their price objective on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Morgan Stanley boosted their price objective on shares of MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Barclays cut their price objective on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Finally, William Blair reissued an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Two equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $252.80.

MarketAxess Stock Performance

Shares of MarketAxess stock opened at $201.79 on Monday. The company has a market capitalization of $7.59 billion, a P/E ratio of 29.46, a P/E/G ratio of 4.22 and a beta of 0.98. The company has a fifty day moving average of $214.73 and a 200 day moving average of $236.64. MarketAxess Holdings Inc. has a fifty-two week low of $199.34 and a fifty-two week high of $322.25.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 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 net margin of 34.29% and a return on equity of 21.76%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. Analysts forecast that MarketAxess Holdings Inc. will post 7.28 EPS for the current year.

Insider Activity

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $15,508,555.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

MarketAxess 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.