Cambridge Investment Research Advisors Inc. Makes New $2.68 Million Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Cambridge Investment Research Advisors Inc. bought a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,384 shares of the financial services provider’s stock, valued at approximately $2,684,000.

Several other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in MarketAxess by 155.8% in the 4th quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its position in MarketAxess by 1,030.8% in the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 134 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of MarketAxess during the fourth quarter valued at approximately $47,000. Larson Financial Group LLC raised its holdings in shares of MarketAxess by 2,428.6% during the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after buying an additional 170 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after buying an additional 158 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

Insider Activity at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now owns 7,409 shares in the company, valued at $1,716,146.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Stephen P. Casper sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $199.48, for a total transaction of $99,740.00. Following the transaction, the director now directly owns 10,201 shares of the company’s stock, valued at $2,034,895.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total transaction of $142,915.71. Following the completion of the sale, the insider now owns 7,409 shares of the company’s stock, valued at approximately $1,716,146.67. The disclosure for this sale can be found here. 2.66% of the stock is owned by insiders.

MarketAxess Stock Performance

NASDAQ MKTX opened at $242.39 on Friday. The stock has a market capitalization of $9.19 billion, a P/E ratio of 35.59, a P/E/G ratio of 5.87 and a beta of 1.03. The business’s fifty day moving average is $221.45 and its two-hundred day moving average is $214.32. MarketAxess Holdings Inc. has a 1 year low of $192.42 and a 1 year high of $297.97.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. The business had revenue of $197.70 million during the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. MarketAxess’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 earnings per share. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7 earnings per share for the current year.

MarketAxess declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

MarketAxess Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be given a $0.74 dividend. This is an increase from MarketAxess’s previous quarterly dividend of $0.20. This represents a $2.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, August 21st. MarketAxess’s dividend payout ratio (DPR) is 43.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of MarketAxess in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. UBS Group decreased their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods boosted their target price on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $238.60.

About MarketAxess

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.