MarketAxess (NASDAQ:MKTX - Get Free Report) had its price target reduced by investment analysts at UBS Group from $255.00 to $240.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's price target indicates a potential upside of 41.28% from the stock's current price.
Other research analysts have also issued research reports about the company. Jefferies Financial Group cut their price target on MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of MarketAxess in a research note on Saturday, September 27th. Argus raised shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price target on the stock in a report on Monday, August 25th. Finally, Morgan Stanley dropped their price objective on shares of MarketAxess from $274.00 to $253.00 and set an "overweight" rating for the company in a research note on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $224.82.
Check Out Our Latest Report on MarketAxess
MarketAxess Trading Up 1.2%
NASDAQ MKTX traded up $2.00 on Tuesday, reaching $169.88. 449,910 shares of the company were exchanged, compared to its average volume of 668,645. The business's fifty day moving average price is $186.01 and its 200 day moving average price is $207.00. MarketAxess has a fifty-two week low of $161.61 and a fifty-two week high of $296.68. The stock has a market capitalization of $6.35 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 3.32 and a beta of 0.89.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to analysts' expectations of $218.05 million. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. Equities research analysts forecast that MarketAxess will post 7.79 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the transaction, the director directly owned 43,208 shares of the company's stock, valued at $8,062,180.72. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Kevin M. Mcpherson sold 1,494 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the sale, the executive directly owned 67,681 shares of the company's stock, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.66% of the company's stock.
Institutional Investors Weigh In On MarketAxess
A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in MarketAxess by 173.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,707 shares of the financial services provider's stock worth $612,000 after purchasing an additional 1,716 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of MarketAxess during the 1st quarter worth about $353,000. UMB Bank n.a. lifted its position in shares of MarketAxess by 57.4% in the 1st 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 during the period. Park Avenue Securities LLC increased its holdings in MarketAxess by 7.1% in the 1st quarter. Park Avenue Securities LLC now owns 1,609 shares of the financial services provider's stock valued at $348,000 after buying an additional 106 shares during the period. Finally, Portside Wealth Group LLC bought a new stake in MarketAxess in the first quarter valued at about $210,000. Institutional investors and hedge funds own 99.01% of the company's stock.
MarketAxess Company Profile
(
Get 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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