Bank of America Corp DE Sells 39,274 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bank of America Corp DE cut its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 22.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 137,318 shares of the financial services provider's stock after selling 39,274 shares during the period. Bank of America Corp DE owned approximately 0.36% of MarketAxess worth $31,039,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MKTX. Barclays PLC raised its holdings in MarketAxess by 16.5% in the third quarter. Barclays PLC now owns 140,760 shares of the financial services provider's stock worth $36,063,000 after buying an additional 19,962 shares during the last quarter. Franklin Resources Inc. raised its holdings in MarketAxess by 242.7% in the third quarter. Franklin Resources Inc. now owns 8,215 shares of the financial services provider's stock worth $2,337,000 after buying an additional 5,818 shares during the last quarter. Principal Financial Group Inc. raised its holdings in MarketAxess by 22.9% in the third quarter. Principal Financial Group Inc. now owns 55,679 shares of the financial services provider's stock worth $14,265,000 after buying an additional 10,361 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in MarketAxess by 13.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,126 shares of the financial services provider's stock worth $255,000 after buying an additional 135 shares during the last quarter. Finally, Czech National Bank raised its holdings in MarketAxess by 6.3% in the fourth quarter. Czech National Bank now owns 8,175 shares of the financial services provider's stock worth $1,848,000 after buying an additional 485 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKTX shares. Morgan Stanley lifted their target price on shares of MarketAxess from $263.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Piper Sandler decreased their price objective on shares of MarketAxess from $213.00 to $202.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Citigroup boosted their price objective on shares of MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, May 8th. UBS Group decreased their price objective on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of MarketAxess from $235.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $241.78.

MarketAxess Trading Up 1.2%

Shares of NASDAQ MKTX opened at $216.01 on Friday. The firm has a 50 day moving average of $217.35 and a 200 day moving average of $225.88. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 3.89 and a beta of 0.89. MarketAxess Holdings Inc. has a 12-month low of $186.84 and a 12-month high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to analyst estimates of $211.81 million. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 earnings per share. Sell-side analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.04 annualized dividend and a yield of 1.41%. MarketAxess's dividend payout ratio (DPR) is 52.87%.

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.

Want to see what other hedge funds are holding MKTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.