Canada Pension Plan Investment Board Has $11.18 Million Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• The Canada Pension Plan Investment Board has increased its stake in MarketAxess Holdings Inc. by 4.0%, owning approximately $11.18 million worth of shares.
• MarketAxess recently reported earnings of $2.00 per share, exceeding analyst expectations and indicating an 11.0% increase in quarterly revenue compared to the previous year.
• The company also declared a quarterly dividend of $0.76 per share, with a 1.7% dividend yield and a payout ratio of 51.18%.

Canada Pension Plan Investment Board lifted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,689 shares of the financial services provider's stock after acquiring an additional 2,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.14% of MarketAxess worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Trexquant Investment LP raised its position in MarketAxess by 274.0% during the first quarter. Trexquant Investment LP now owns 22,103 shares of the financial services provider's stock valued at $4,782,000 after purchasing an additional 16,193 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of MarketAxess by 16.4% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 7,890 shares of the financial services provider's stock worth $1,707,000 after buying an additional 1,113 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of MarketAxess by 17.0% during the 1st quarter. Ieq Capital LLC now owns 11,657 shares of the financial services provider's stock worth $2,522,000 after buying an additional 1,690 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of MarketAxess by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 680,000 shares of the financial services provider's stock worth $147,118,000 after buying an additional 9,100 shares during the last quarter. Finally, Comerica Bank boosted its stake in MarketAxess by 0.9% in the first quarter. Comerica Bank now owns 5,181 shares of the financial services provider's stock valued at $1,121,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

MarketAxess Price Performance

Shares of MarketAxess stock traded up $7.37 during trading on Friday, hitting $187.50. The company's stock had a trading volume of 757,478 shares, compared to its average volume of 622,983. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.63 and a beta of 0.88. MarketAxess Holdings Inc. has a 52 week low of $178.20 and a 52 week high of $296.68. The stock has a 50-day moving average price of $201.35 and a two-hundred day moving average price of $210.76.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.MarketAxess's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.72 EPS. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a $0.76 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.04 annualized dividend and a yield of 1.6%. MarketAxess's payout ratio is presently 51.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group lowered their target price on MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Barclays lowered their price objective on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Morgan Stanley dropped their price objective on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. UBS Group decreased their target price on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler reiterated a "neutral" rating and set a $204.00 price target (up from $202.00) on shares of MarketAxess in a report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $228.09.

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.