MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,160 shares of the financial services provider’s stock after selling 1,882 shares during the period. Truist Financial Corp’s holdings in MarketAxess were worth $1,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. GUARDCAP ASSET MANAGEMENT Ltd increased its position in MarketAxess by 30.3% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock valued at $531,878,000 after acquiring an additional 564,820 shares during the period. Millennium Management LLC grew its stake in shares of MarketAxess by 2,889.6% in the 2nd quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock valued at $68,032,000 after purchasing an additional 327,913 shares during the last quarter. Van ECK Associates Corp increased its holdings 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 valued at $363,508,000 after purchasing an additional 290,347 shares during the period. Marshall Wace LLP grew its position in MarketAxess by 53.5% in the 2nd quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after buying an additional 285,665 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in MarketAxess by 120.6% in 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 buying an additional 214,928 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MKTX shares. Citigroup raised their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Piper Sandler boosted their target price on MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group increased their price objective on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $249.80.

Insider Transactions at MarketAxess

In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess 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 sale, the insider now directly owns 7,409 shares of the company’s stock, valued at approximately $1,716,146.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.66% of the company’s stock.

MarketAxess Stock Up 0.6 %

MKTX stock opened at $278.10 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91. MarketAxess Holdings Inc. has a 12 month low of $192.42 and a 12 month high of $297.97. The firm has a market capitalization of $10.50 billion, a PE ratio of 40.07, a P/E/G ratio of 7.24 and a beta of 1.08. The company’s 50 day simple moving average is $250.06 and its 200-day simple moving average is $223.30.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. The company 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 20.43% and a net margin of 33.71%. MarketAxess’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. Equities analysts expect that MarketAxess Holdings Inc. will post 7.16 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.74 per share. This is a boost from MarketAxess’s previous quarterly dividend of $0.20. This represents a $2.96 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, August 21st. MarketAxess’s dividend payout ratio (DPR) is currently 42.65%.

MarketAxess announced that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.