Deutsche Bank AG reduced its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,265 shares of the financial services provider's stock after selling 90,607 shares during the quarter. Deutsche Bank AG owned 0.47% of MarketAxess worth $37,702,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Clear Creek Financial Management LLC purchased a new position in shares of MarketAxess during the 1st quarter worth approximately $280,000. Praxis Investment Management Inc. acquired a new position in MarketAxess in the first quarter valued at $376,000. Wilson Asset Management International PTY Ltd. lifted its stake 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 worth $13,087,000 after purchasing an additional 12,697 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MarketAxess by 210.8% in the first quarter. Victory Capital Management Inc. now owns 17,400 shares of the financial services provider's stock valued at $3,764,000 after buying an additional 11,801 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in MarketAxess by 13.6% in the first quarter. First Citizens Bank & Trust Co. now owns 24,671 shares of the financial services provider's stock valued at $5,338,000 after acquiring an additional 2,947 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.
MarketAxess Trading Up 1.3%
MKTX traded up $2.41 during midday trading on Friday, reaching $190.04. The company's stock had a trading volume of 686,996 shares, compared to its average volume of 568,961. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 3.61 and a beta of 0.84. MarketAxess Holdings Inc. has a 1 year low of $182.99 and a 1 year high of $296.68. The stock's 50-day moving average is $212.47 and its 200-day moving average is $212.27.
MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. As a group, equities research analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.
MarketAxess Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. MarketAxess's payout ratio is presently 51.18%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Jefferies Financial Group reduced their target price on MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a report on Monday, August 11th. Piper Sandler reaffirmed a "neutral" rating and set a $204.00 price objective (up from $202.00) on shares of MarketAxess in a report on Tuesday, July 15th. Barclays dropped 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 cut their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods increased their target price on MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $229.70.
View Our Latest Research Report on MarketAxess
MarketAxess Profile
(
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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