Sumitomo Mitsui DS Asset Management Company Ltd Acquires 90 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,507 shares of the financial services provider’s stock after acquiring an additional 90 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MarketAxess were worth $898,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MKTX. Goodman Advisory Group LLC purchased a new position in shares of MarketAxess in the 2nd quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in MarketAxess by 2,428.6% in the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock worth $39,000 after buying an additional 170 shares during the last quarter. Blue Trust Inc. boosted its stake in MarketAxess by 405.1% during the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after buying an additional 158 shares during the period. CVA Family Office LLC increased its position in MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 81 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of MarketAxess in the third quarter valued at $54,000. 99.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKTX. Piper Sandler lifted their price target on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com raised MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods increased their target price on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $253.30.

MarketAxess Price Performance

MKTX opened at $290.23 on Wednesday. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 42.62, a PEG ratio of 7.24 and a beta of 1.08. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.01. MarketAxess Holdings Inc. has a 12-month low of $192.42 and a 12-month high of $297.97. The business’s fifty day simple moving average is $257.89 and its 200-day simple moving average is $226.83.

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 the consensus estimate of $1.68 by $0.04. The company 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%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. On average, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.16 earnings per share for the current fiscal year.

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

Insider Activity

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 7,409 shares of the company’s stock, valued at $1,716,146.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.