Brokerages Set MarketAxess Holdings Inc. (NASDAQ:MKTX) PT at $253.30

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $253.30.

MKTX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Citigroup lifted their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Piper Sandler lifted their target price on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Barclays lifted their target price on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 617 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the transaction, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goodman Advisory Group LLC purchased a new position in shares of MarketAxess during the second quarter valued at about $27,000. Larson Financial Group LLC increased its position in shares of MarketAxess by 2,428.6% during the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after buying an additional 170 shares during the period. Blue Trust Inc. increased its position in shares of MarketAxess by 405.1% during the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after buying an additional 158 shares during the period. CVA Family Office LLC boosted its stake in MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in MarketAxess during the third quarter worth about $54,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

NASDAQ MKTX opened at $287.40 on Friday. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. The company has a market capitalization of $10.85 billion, a P/E ratio of 41.41, a P/E/G ratio of 9.10 and a beta of 1.05. The company has a fifty day moving average of $266.65 and a 200-day moving average of $230.88.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The company had revenue of $197.70 million during the quarter, compared to the consensus estimate of $198.07 million. During the same period in the previous year, the firm posted $1.63 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that MarketAxess will post 7.26 EPS for the current fiscal year.

MarketAxess declared that its board has initiated a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

MarketAxess Company Profile

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.