MarketAxess (NASDAQ:MKTX) Price Target Lowered to $285.00 at UBS Group

MarketAxess (NASDAQ:MKTX) had its price objective decreased by UBS Group from $305.00 to $285.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also weighed in on MKTX. The Goldman Sachs Group dropped their price target on shares of MarketAxess from $263.00 to $225.00 and set a neutral rating on the stock in a research report on Thursday, February 1st. Bank of America assumed coverage on shares of MarketAxess in a research report on Wednesday, April 10th. They set an underperform rating and a $199.00 target price on the stock. Keefe, Bruyette & Woods reduced their target price on MarketAxess from $235.00 to $230.00 and set a market perform rating for the company in a report on Wednesday. Barclays dropped their price target on MarketAxess from $239.00 to $236.00 and set an equal weight rating on the stock in a report on Monday, April 8th. Finally, Piper Sandler reduced their price objective on MarketAxess from $250.00 to $237.00 and set a neutral rating for the company in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, MarketAxess presently has a consensus rating of Hold and a consensus target price of $249.73.

MarketAxess Stock Up 0.7 %

MKTX stock opened at $202.21 on Wednesday. The firm has a market capitalization of $7.60 billion, a PE ratio of 29.52, a P/E/G ratio of 4.26 and a beta of 0.98. MarketAxess has a twelve month low of $198.01 and a twelve month high of $303.85. The stock’s 50 day moving average is $213.04 and its 200-day moving average is $234.73.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. The business had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.99 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. MarketAxess’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities research analysts anticipate that MarketAxess will post 7.28 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, May 21st. MarketAxess’s dividend payout ratio is currently 43.21%.

Insiders Place Their Bets

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the sale, the executive now owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MKTX. Allworth Financial LP boosted its position in shares of MarketAxess by 347.6% in the fourth quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 73 shares during the period. Gladius Capital Management LP boosted its holdings in MarketAxess by 39.6% in the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 38 shares during the period. Venturi Wealth Management LLC grew its position in shares of MarketAxess by 1,030.8% during the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 134 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of MarketAxess by 155.8% in the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 67 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of MarketAxess by 47.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.