New York State Common Retirement Fund Sells 54,660 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

New York State Common Retirement Fund cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 71.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,319 shares of the financial services provider's stock after selling 54,660 shares during the period. New York State Common Retirement Fund owned about 0.06% of MarketAxess worth $4,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 54 shares in the last quarter. State of Wyoming grew its position in MarketAxess by 13.6% in the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock worth $109,000 after acquiring an additional 58 shares in the last quarter. Guggenheim Capital LLC grew its position in MarketAxess by 3.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,701 shares of the financial services provider's stock worth $384,000 after acquiring an additional 61 shares in the last quarter. Colonial Trust Co SC grew its position in MarketAxess by 20.2% in the fourth quarter. Colonial Trust Co SC now owns 422 shares of the financial services provider's stock worth $95,000 after acquiring an additional 71 shares in the last quarter. Finally, UMB Bank n.a. grew its position in MarketAxess by 57.4% in the first quarter. UMB Bank n.a. now owns 222 shares of the financial services provider's stock worth $48,000 after acquiring an additional 81 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MKTX has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. William Blair initiated coverage on shares of MarketAxess in a report on Friday, April 4th. They set an "outperform" rating for the company. UBS Group reaffirmed a "buy" rating and set a $295.00 price objective on shares of MarketAxess in a report on Tuesday, July 8th. 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. Finally, Citigroup upped their target price on shares of MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MarketAxess has an average rating of "Hold" and an average target price of $240.67.

MarketAxess Stock Down 1.1%

Shares of MarketAxess stock traded down $2.29 during trading on Friday, reaching $211.45. The company's stock had a trading volume of 214,825 shares, compared to its average volume of 341,626. The business's 50-day moving average price is $218.85 and its 200-day moving average price is $214.78. The firm has a market cap of $7.93 billion, a PE ratio of 36.77, a P/E/G ratio of 2.82 and a beta of 0.85. MarketAxess Holdings Inc. has a 52 week low of $186.84 and a 52 week 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, beating analysts' consensus estimates of $1.82 by $0.05. The business had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. MarketAxess's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share. Equities analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

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.