MarketAxess (NASDAQ:MKTX) Price Target Cut to $251.00 by Analysts at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $255.00 to $251.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 16.19% from the company’s current price.

MKTX has been the topic of several other research reports. UBS Group lifted their price objective on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup boosted their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Piper Sandler decreased their price objective on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America dropped their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $261.30.

MarketAxess Stock Up 0.3 %

MarketAxess stock traded up $0.56 during midday trading on Monday, hitting $216.02. 150,491 shares of the stock were exchanged, compared to its average volume of 406,633. MarketAxess has a 52-week low of $192.42 and a 52-week high of $296.68. The business’s 50-day moving average price is $246.71 and its 200-day moving average price is $246.17. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 9.49 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. During the same period last year, the business posted $1.46 earnings per share. MarketAxess’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts predict that MarketAxess will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at MarketAxess

In related news, Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the transaction, the chairman now owns 562,029 shares in the company, valued at $150,438,302.43. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,300 shares of company stock worth $8,183,871. Insiders own 2.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Czech National Bank grew its position in shares of MarketAxess by 6.3% in the 4th quarter. Czech National Bank now owns 8,175 shares of the financial services provider’s stock worth $1,848,000 after buying an additional 485 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in MarketAxess by 13.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,126 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 135 shares in the last quarter. First Hawaiian Bank purchased a new stake in MarketAxess in the fourth quarter worth about $1,088,000. Nordea Investment Management AB increased its stake in shares of MarketAxess by 461.5% during the fourth quarter. Nordea Investment Management AB now owns 57,876 shares of the financial services provider’s stock valued at $13,041,000 after purchasing an additional 47,568 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of MarketAxess by 40.2% during the fourth quarter. GAMMA Investing LLC now owns 704 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.