Bank of New York Mellon Corp Cuts Stock Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bank of New York Mellon Corp lowered its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,054 shares of the financial services provider's stock after selling 51,880 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of MarketAxess worth $84,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors bought a new position in shares of MarketAxess during the first quarter valued at approximately $397,000. IFM Investors Pty Ltd increased its holdings in shares of MarketAxess by 11.0% during the first quarter. IFM Investors Pty Ltd now owns 7,071 shares of the financial services provider's stock valued at $1,530,000 after acquiring an additional 703 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of MarketAxess by 7.5% during the first quarter. D.A. Davidson & CO. now owns 17,983 shares of the financial services provider's stock valued at $3,891,000 after acquiring an additional 1,256 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of MarketAxess during the first quarter valued at $6,327,000. Finally, Wilson Asset Management International PTY Ltd. boosted its position in shares of MarketAxess by 26.6% during the first quarter. Wilson Asset Management International PTY Ltd. now owns 60,492 shares of the financial services provider's stock valued at $13,087,000 after buying an additional 12,697 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKTX shares. Barclays dropped their target price on MarketAxess from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wall Street Zen cut MarketAxess from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Bank of America lifted their target price on MarketAxess from $189.00 to $191.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Citigroup lifted their price objective on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, William Blair assumed coverage on MarketAxess in a research note on Friday, April 4th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, MarketAxess currently has a consensus rating of "Hold" and an average target price of $241.44.

MarketAxess Trading Down 0.1%

NASDAQ MKTX opened at $218.97 on Friday. The company's 50-day moving average price is $220.85 and its 200-day moving average price is $215.82. The stock has a market cap of $8.21 billion, a PE ratio of 38.08, a PEG ratio of 2.86 and a beta of 0.85. 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 posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.05. MarketAxess had a net margin of 26.57% and a return on equity of 19.93%. The firm had revenue of $208.58 million for the quarter, compared to analysts' expectations of $211.81 million. During the same period in the prior year, the business posted $1.92 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 21st. MarketAxess's dividend payout ratio (DPR) is presently 52.87%.

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.

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