Scientech Research LLC Takes $1.07 Million Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Scientech Research LLC purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,318 shares of the financial services provider’s stock, valued at approximately $1,066,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GUARDCAP ASSET MANAGEMENT Ltd increased its holdings in MarketAxess by 30.3% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock worth $531,878,000 after purchasing an additional 564,820 shares during the last quarter. Millennium Management LLC grew its position in shares of MarketAxess by 2,889.6% during the second quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock worth $68,032,000 after buying an additional 327,913 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of MarketAxess by 21.2% in the first quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock worth $363,508,000 after buying an additional 290,347 shares during the last quarter. Marshall Wace LLP raised its holdings in MarketAxess by 53.5% in the second quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after acquiring an additional 285,665 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in MarketAxess by 120.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 393,073 shares of the financial services provider’s stock valued at $78,823,000 after acquiring an additional 214,928 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

MKTX has been the subject of several research analyst reports. Barclays dropped their target price on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their price target on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of MarketAxess in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $238.60.

MarketAxess Stock Performance

Shares of NASDAQ MKTX opened at $254.84 on Friday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $240.88 and its two-hundred day moving average price is $219.88. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97. The stock has a market capitalization of $9.62 billion, a P/E ratio of 37.42, a P/E/G ratio of 6.04 and a beta of 1.07.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $198.07 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. MarketAxess’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. As a group, sell-side analysts forecast that MarketAxess Holdings Inc. will post 7.06 earnings per share for the current year.

MarketAxess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Wednesday, August 21st. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s payout ratio is 43.47%.

MarketAxess announced that its board has authorized a share repurchase program on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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 of the company’s stock, valued at $1,716,146.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.66% 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.