Victory Capital Management Inc. Has $1.47 Million Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Victory Capital Management Inc. lowered its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 5.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,725 shares of the financial services provider’s stock after selling 331 shares during the period. Victory Capital Management Inc.’s holdings in MarketAxess were worth $1,467,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Goodman Advisory Group LLC bought a new position in shares of MarketAxess during the second quarter worth approximately $27,000. Blue Trust Inc. grew its holdings 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 worth $43,000 after purchasing an additional 158 shares during the last quarter. CVA Family Office LLC grew its holdings in MarketAxess by 47.4% during the 2nd 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 during the last quarter. Exchange Traded Concepts LLC acquired a new stake in MarketAxess in the third quarter valued at $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of MarketAxess by 555.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after buying an additional 200 shares during the period. Institutional investors own 99.01% of the company’s stock.

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 stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the transaction, the chairman now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

MarketAxess Stock Performance

Shares of MKTX opened at $263.80 on Tuesday. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 11.69 and a beta of 1.05. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97. The stock’s 50-day simple moving average is $273.23 and its 200 day simple moving average is $238.10.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data 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. The company had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. MarketAxess’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current fiscal year.

MarketAxess declared that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

MarketAxess Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.12%. MarketAxess’s dividend payout ratio (DPR) is currently 40.11%.

Analyst Ratings Changes

Several research firms recently issued reports on MKTX. Keefe, Bruyette & Woods boosted their target price on shares of MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Barclays upped their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America cut their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. UBS Group lifted their target price 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. Finally, Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Two 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. According to MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and an average target price of $267.50.

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.