MarketAxess (NASDAQ:MKTX) had its target price reduced by equities research analysts at Morgan Stanley from $470.00 to $459.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target suggests a potential upside of 7.69% from the company's previous close.
MKTX has been the subject of several other research reports. Piper Sandler decreased their target price on shares of MarketAxess from $483.00 to $475.00 and set a "neutral" rating for the company in a research note on Wednesday, July 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MarketAxess from $430.00 to $427.00 and set a "hold" rating for the company in a research note on Thursday, July 22nd. Rosenblatt Securities decreased their target price on shares of MarketAxess from $625.00 to $569.00 and set a "buy" rating for the company in a research note on Thursday, June 3rd. Finally, Raymond James decreased their target price on shares of MarketAxess from $580.00 to $530.00 and set an "outperform" rating for the company in a research note on Wednesday, July 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $532.00.
Shares of MKTX stock opened at $426.24 on Wednesday. The stock's 50-day moving average is $467.20 and its two-hundred day moving average is $479.61. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 56.31 and a beta of 0.36. MarketAxess has a 1 year low of $420.79 and a 1 year high of $606.45.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.08. MarketAxess had a return on equity of 29.87% and a net margin of 40.79%. The company had revenue of $176.30 million for the quarter, compared to analyst estimates of $177.56 million. During the same quarter last year, the company posted $2.20 earnings per share. The business's quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that MarketAxess will post 7.36 EPS for the current fiscal year.
In other MarketAxess news, CEO Richard M. Mcvey sold 12,117 shares of MarketAxess stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $484.74, for a total value of $5,873,594.58. Following the completion of the sale, the chief executive officer now directly owns 772,739 shares of the company's stock, valued at approximately $374,577,502.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Scott Pintoff sold 250 shares of MarketAxess stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $487.05, for a total transaction of $121,762.50. Following the completion of the sale, the general counsel now directly owns 5,973 shares of the company's stock, valued at $2,909,149.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,902 shares of company stock valued at $8,631,608. 2.19% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of MarketAxess by 128.2% during the 1st quarter. FMR LLC now owns 127,669 shares of the financial services provider's stock valued at $31,417,000 after acquiring an additional 71,732 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of MarketAxess by 6.3% during the 1st quarter. IFM Investors Pty Ltd now owns 3,905 shares of the financial services provider's stock valued at $1,944,000 after acquiring an additional 231 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of MarketAxess by 23.5% during the 1st quarter. Congress Asset Management Co. MA now owns 3,216 shares of the financial services provider's stock valued at $1,601,000 after acquiring an additional 612 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of MarketAxess by 5.1% during the 1st quarter. M&T Bank Corp now owns 9,329 shares of the financial services provider's stock valued at $4,646,000 after acquiring an additional 450 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its holdings in shares of MarketAxess by 2.9% during the 1st quarter. Standard Life Aberdeen plc now owns 58,592 shares of the financial services provider's stock valued at $29,194,000 after acquiring an additional 1,664 shares in the last quarter. 94.39% of the stock is owned by institutional investors.
About MarketAxess
MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.
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