MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 220,146 shares of the financial services provider’s stock after purchasing an additional 17,945 shares during the period. Raymond James & Associates’ holdings in MarketAxess were worth $56,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in MarketAxess by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,539,440 shares of the financial services provider’s stock worth $995,272,000 after buying an additional 13,018 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd increased its position 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 in the last quarter. Van ECK Associates Corp raised its stake in MarketAxess by 10.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,828,055 shares of the financial services provider’s stock valued at $366,580,000 after purchasing an additional 170,095 shares during the last quarter. Primecap Management Co. CA lifted its holdings in MarketAxess by 18.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,330,880 shares of the financial services provider’s stock valued at $266,881,000 after purchasing an additional 204,960 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of MarketAxess by 53.5% during the 2nd quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock worth $164,447,000 after purchasing an additional 285,665 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKTX has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Bank of America decreased their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Piper Sandler upped their target price on MarketAxess from $235.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays raised their price target on MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group upped their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $253.30.

Insider Buying and Selling at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,716,146.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.66% of the stock is currently owned by corporate insiders.

MarketAxess Trading Down 0.6 %

NASDAQ MKTX opened at $287.10 on Tuesday. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 7.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The company’s 50 day moving average price is $256.91 and its 200 day moving average price is $226.37.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $197.70 million for the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 EPS. On average, sell-side analysts predict that MarketAxess Holdings Inc. will post 7.16 EPS for the current year.

MarketAxess declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.