Connor Clark & Lunn Investment Management Ltd. Has $1.11 Million Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 65.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,338 shares of the financial services provider’s stock after selling 8,179 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in MarketAxess were worth $1,111,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Retirement Planning Co of New England Inc. raised its holdings in shares of MarketAxess by 2.9% during the second quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 44 shares during the period. Asset Management One Co. Ltd. increased its stake in MarketAxess by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock valued at $3,953,000 after buying an additional 50 shares during the period. Nisa Investment Advisors LLC increased its stake in MarketAxess by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock valued at $1,479,000 after buying an additional 52 shares during the period. DekaBank Deutsche Girozentrale increased its stake in MarketAxess by 1.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 52 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in MarketAxess by 4.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock valued at $324,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Up 0.3 %

NASDAQ MKTX opened at $261.71 on Thursday. The company has a fifty day simple moving average of $273.38 and a 200 day simple moving average of $238.90. The company has a market cap of $9.87 billion, a P/E ratio of 35.37, a P/E/G ratio of 11.85 and a beta of 1.05. MarketAxess Holdings Inc. has a 1 year low of $192.42 and a 1 year high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. MarketAxess’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. Equities research analysts forecast that MarketAxess Holdings Inc. will post 7.37 EPS for the current fiscal year.

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is presently 40.11%.

MarketAxess announced that its board has initiated a stock repurchase program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MKTX shares. Citigroup upped their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price objective on shares of MarketAxess in a research note on Thursday, November 7th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Bank of America dropped their price target on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, October 3rd. Finally, Morgan Stanley increased their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $267.50.

Insiders Place Their Bets

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the sale, the chairman now directly owns 562,029 shares in the company, valued at $150,438,302.43. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.66% 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.