CX Institutional Makes New Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

CX Institutional bought a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 630 shares of the financial services provider’s stock, valued at approximately $136,000.

A number of other large investors have also bought and sold shares of MKTX. Empowered Funds LLC purchased a new stake in MarketAxess in the fourth quarter worth $358,000. V Square Quantitative Management LLC increased its position in MarketAxess by 4.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,340 shares of the financial services provider’s stock worth $303,000 after buying an additional 52 shares during the last quarter. Congress Asset Management Co. purchased a new stake in MarketAxess in the fourth quarter worth $71,103,000. Principal Securities Inc. increased its position in MarketAxess by 230.4% in the fourth quarter. Principal Securities Inc. now owns 261 shares of the financial services provider’s stock worth $59,000 after buying an additional 182 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in MarketAxess by 2.2% in the fourth quarter. CIBC Asset Management Inc now owns 5,357 shares of the financial services provider’s stock worth $1,211,000 after buying an additional 117 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Stock Performance

NASDAQ:MKTX opened at $225.25 on Monday. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 3.89 and a beta of 0.84. MarketAxess Holdings Inc. has a 52-week low of $186.84 and a 52-week high of $296.68. The stock has a fifty day moving average of $219.79 and a 200 day moving average of $218.06.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to analyst estimates of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. Equities analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, May 21st. MarketAxess’s dividend payout ratio is 52.87%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen cut MarketAxess from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Morgan Stanley lifted their price target on MarketAxess from $263.00 to $283.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Bank of America lifted their price target on MarketAxess from $189.00 to $191.00 and gave the company an “underperform” rating in a research report on Wednesday, April 2nd. William Blair assumed coverage on MarketAxess in a research report on Friday, April 4th. They issued an “outperform” rating for the company. Finally, Piper Sandler reduced their price target on MarketAxess from $213.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and an average price target of $241.78.

MarketAxess Company 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.