Congress Asset Management Co. grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 341,738 shares of the financial services provider's stock after purchasing an additional 27,177 shares during the period. Congress Asset Management Co. owned about 0.91% of MarketAxess worth $73,935,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of MarketAxess in the 4th quarter valued at approximately $119,095,000. FMR LLC raised its stake in shares of MarketAxess by 17.4% during the fourth quarter. FMR LLC now owns 2,300,536 shares of the financial services provider's stock valued at $520,013,000 after acquiring an additional 341,493 shares during the last quarter. Van ECK Associates Corp lifted its holdings in MarketAxess by 13.4% during the 4th quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider's stock worth $452,246,000 after buying an additional 236,497 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in MarketAxess by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider's stock valued at $519,533,000 after acquiring an additional 236,118 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of MarketAxess during the fourth quarter worth $46,079,000. Institutional investors and hedge funds own 99.01% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on MKTX shares. William Blair initiated coverage on MarketAxess in a research note on Friday, April 4th. They issued an "outperform" rating on the stock. UBS Group decreased their price target on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Piper Sandler decreased their target price on MarketAxess from $213.00 to $202.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $241.78.
Read Our Latest Research Report on MarketAxess
MarketAxess Stock Performance
MKTX traded up $1.19 during midday trading on Tuesday, reaching $224.44. 312,212 shares of the company were exchanged, compared to its average volume of 500,629. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. MarketAxess Holdings Inc. has a one year low of $186.84 and a one year high of $296.68. The company's fifty day moving average price is $218.79 and its 200 day moving average price is $219.13.
MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The business had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. During the same quarter in the prior year, the company posted $1.92 earnings per share. MarketAxess's revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.
MarketAxess Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.04 annualized dividend and a dividend yield of 1.35%. MarketAxess's dividend payout ratio is currently 52.87%.
MarketAxess Company Profile
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Free Report)
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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