US Bancorp DE Buys 1,006 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

US Bancorp DE grew its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 12.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,973 shares of the financial services provider’s stock after buying an additional 1,006 shares during the quarter. US Bancorp DE’s holdings in MarketAxess were worth $2,299,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Goodman Advisory Group LLC bought a new stake in MarketAxess during the 2nd quarter worth $27,000. Larson Financial Group LLC increased its stake in shares of MarketAxess by 2,428.6% in 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 period. Blue Trust Inc. raised its holdings in MarketAxess by 405.1% in the 2nd 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. Exchange Traded Concepts LLC acquired a new stake in MarketAxess during the 3rd quarter worth approximately $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after buying an additional 200 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Price Performance

MarketAxess stock opened at $274.87 on Thursday. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 9.04 and a beta of 1.05. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. The stock’s 50 day moving average price is $269.28 and its two-hundred day moving average price is $232.51.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The business had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $198.07 million. During the same period last year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current year.

MarketAxess declared that its board has authorized 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 repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.08%. MarketAxess’s payout ratio is 42.65%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup raised their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Piper Sandler upped their price target on MarketAxess from $235.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price objective on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley lifted their price objective on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $253.30.

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.