Envestnet Asset Management Inc. Cuts Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Envestnet Asset Management Inc. lessened its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 71.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 58,116 shares of the financial services provider's stock after selling 145,814 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of MarketAxess worth $12,573,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Allianz SE purchased a new stake in MarketAxess during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 54 shares during the last quarter. Huntington National Bank lifted its position in MarketAxess by 185.7% during the fourth quarter. Huntington National Bank now owns 160 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 104 shares during the last quarter. UMB Bank n.a. lifted its position in MarketAxess by 57.4% during the first quarter. UMB Bank n.a. now owns 222 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 81 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in MarketAxess during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group restated a "buy" rating and set a $295.00 price target on shares of MarketAxess in a research note on Tuesday, July 8th. Bank of America increased their price objective on shares of MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Citigroup increased their price objective on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley cut their price objective on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, MarketAxess presently has an average rating of "Hold" and an average target price of $240.67.

MarketAxess Price Performance

Shares of MKTX stock traded up $1.40 during trading on Wednesday, reaching $212.07. The company's stock had a trading volume of 330,278 shares, compared to its average volume of 498,913. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 2.78 and a beta of 0.85. The stock's 50-day moving average price is $218.91 and its 200 day moving average price is $214.92. MarketAxess Holdings Inc. has a 1-year low of $186.84 and a 1-year 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 the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to analysts' expectations of $211.81 million. MarketAxess had a net margin of 26.57% and a return on equity of 19.93%. The firm's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. On average, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

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.