Northwest & Ethical Investments L.P. cut its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 65.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,099 shares of the financial services provider's stock after selling 11,632 shares during the period. Northwest & Ethical Investments L.P.'s holdings in MarketAxess were worth $1,320,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of MarketAxess by 999.6% in the first quarter. American Century Companies Inc. now owns 222,342 shares of the financial services provider's stock valued at $48,104,000 after purchasing an additional 202,121 shares during the last quarter. Element Capital Management LLC bought a new position in shares of MarketAxess in the first quarter valued at $2,747,000. Ground Swell Capital LLC bought a new position in shares of MarketAxess in the first quarter valued at $362,000. HighTower Advisors LLC grew its stake in shares of MarketAxess by 109.5% in the first quarter. HighTower Advisors LLC now owns 2,524 shares of the financial services provider's stock valued at $546,000 after buying an additional 1,319 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of MarketAxess by 3.4% in the first quarter. Public Sector Pension Investment Board now owns 10,094 shares of the financial services provider's stock valued at $2,184,000 after buying an additional 328 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.
MarketAxess Price Performance
MKTX stock traded up $1.88 during midday trading on Friday, reaching $188.73. 589,575 shares of the company were exchanged, compared to its average volume of 648,016. The business has a 50-day moving average price of $208.74 and a two-hundred day moving average price of $211.41. MarketAxess Holdings Inc. has a one year low of $182.99 and a one year high of $296.68. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.84.
MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The firm had revenue of $219.46 million during the quarter, compared to analysts' expectations of $218.05 million. During the same period in the previous year, the business posted $1.72 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, 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 will be paid on Wednesday, September 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.6%. MarketAxess's dividend payout ratio (DPR) is currently 51.18%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays decreased their target price on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group decreased their target price on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Morgan Stanley decreased their target price 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. Finally, UBS Group decreased their target price on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $229.70.
Check Out Our Latest Research Report on MarketAxess
MarketAxess Company 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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