New York State Teachers Retirement System Sells 2,015 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

New York State Teachers Retirement System trimmed its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 5.6% in the third quarter, Holdings Channel reports. The fund owned 33,674 shares of the financial services provider’s stock after selling 2,015 shares during the quarter. New York State Teachers Retirement System’s holdings in MarketAxess were worth $8,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Goodman Advisory Group LLC acquired a new position in shares of MarketAxess during the second quarter valued at about $27,000. Larson Financial Group LLC raised its position 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. Blue Trust Inc. raised its position in shares of MarketAxess by 405.1% during the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after buying an additional 158 shares during the last quarter. CVA Family Office LLC raised its position in shares of 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 buying an additional 81 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of MarketAxess during the third quarter valued at about $54,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Insider Activity

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Barclays increased their price target on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley increased their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler increased their price target on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, MarketAxess currently has a consensus rating of “Hold” and a consensus price target of $253.30.

MarketAxess Stock Performance

NASDAQ MKTX opened at $287.40 on Monday. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 9.10 and a beta of 1.05. The company has a 50 day moving average of $266.65 and a 200-day moving average of $230.88. 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 1-year low of $192.42 and a 1-year high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data 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. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The company had revenue of $197.70 million during the quarter, compared to analyst estimates of $198.07 million. During the same quarter last year, the business posted $1.63 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current fiscal year.

MarketAxess declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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.