MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Average Recommendation of "Hold" from Analysts

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) have received an average recommendation of "Hold" from the ten research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $241.78.

A number of research analysts have commented on the stock. Wall Street Zen cut shares of MarketAxess from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Piper Sandler cut their target price on shares of MarketAxess from $213.00 to $202.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Barclays boosted their price objective on shares of MarketAxess from $232.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of MarketAxess from $263.00 to $283.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th.

MarketAxess Price Performance

MarketAxess stock opened at $225.25 on Friday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.89 and a beta of 0.84. The company's fifty day moving average price is $219.79 and its two-hundred day moving average price is $218.66. MarketAxess has a one year low of $186.84 and a one year high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million for the quarter, compared to the consensus estimate of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The firm's revenue was down .8% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. As a group, sell-side analysts anticipate that MarketAxess will post 7.79 earnings per share for the current year.

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, May 21st. MarketAxess's payout ratio is 52.87%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of MarketAxess during the fourth quarter valued at about $119,095,000. Millennium Management LLC lifted its position in shares of MarketAxess by 329.4% during the first quarter. Millennium Management LLC now owns 618,922 shares of the financial services provider's stock valued at $133,904,000 after purchasing an additional 474,776 shares in the last quarter. FMR LLC lifted its position in shares of MarketAxess by 17.4% during the fourth quarter. FMR LLC now owns 2,300,536 shares of the financial services provider's stock valued at $520,013,000 after purchasing an additional 341,493 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of MarketAxess during the fourth quarter valued at about $71,103,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of 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 valued at $519,533,000 after purchasing an additional 236,118 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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