Connor Clark & Lunn Investment Management Ltd. Has $21.90 Million Stock Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in MarketAxess Holdings Inc. by 347.6% during the 1st quarter, acquiring a total of 101,218 shares valued at approximately $21.9 million.
• MarketAxess reported a quarterly earnings per share (EPS) of $2.00, exceeding analyst expectations of $1.94, while revenue rose by 11.0% year-over-year to $219.46 million.
• The company declared a quarterly dividend of $0.76 per share, resulting in an annualized dividend yield of 1.6%.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 347.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,218 shares of the financial services provider's stock after purchasing an additional 78,606 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of MarketAxess worth $21,899,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in MarketAxess by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider's stock worth $519,533,000 after acquiring an additional 236,118 shares during the period. Invesco Ltd. grew its holdings in MarketAxess by 12.4% during the fourth quarter. Invesco Ltd. now owns 1,044,360 shares of the financial services provider's stock worth $236,067,000 after acquiring an additional 115,186 shares during the period. Dimensional Fund Advisors LP grew its holdings in MarketAxess by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 397,867 shares of the financial services provider's stock worth $89,934,000 after acquiring an additional 25,763 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in MarketAxess by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 372,468 shares of the financial services provider's stock worth $80,583,000 after acquiring an additional 9,244 shares during the period. Finally, Northern Trust Corp grew its holdings in MarketAxess by 20.5% during the fourth quarter. Northern Trust Corp now owns 370,853 shares of the financial services provider's stock worth $83,828,000 after acquiring an additional 63,061 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MKTX shares. Piper Sandler reiterated a "neutral" rating and issued a $204.00 price target (up previously from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Jefferies Financial Group decreased their price target on MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research report on Monday. Morgan Stanley decreased their price objective on MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price objective on MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Finally, Barclays decreased their price objective on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, MarketAxess has a consensus rating of "Hold" and an average price target of $229.70.

MarketAxess Stock Performance

NASDAQ MKTX traded down $0.65 during trading hours on Thursday, hitting $188.36. 247,294 shares of the company traded hands, compared to its average volume of 590,197. The business's 50-day moving average is $213.89 and its 200-day moving average is $212.81. MarketAxess Holdings Inc. has a twelve month low of $182.99 and a twelve month high of $296.68. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 3.58 and a beta of 0.84.

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 for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%. The company had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. During the same quarter last year, the company earned $1.72 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. MarketAxess's dividend payout ratio (DPR) is 51.18%.

About MarketAxess

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.