Congress Asset Management Co. MA raised its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,450 shares of the financial services provider’s stock after purchasing an additional 85 shares during the quarter. Congress Asset Management Co. MA’s holdings in MarketAxess were worth $1,130,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quest Capital Management Inc. ADV acquired a new stake in shares of MarketAxess in the third quarter worth $28,000. CWM LLC raised its holdings in shares of MarketAxess by 60.7% during the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 34 shares in the last quarter. Squar Milner Financial Services LLC raised its holdings in shares of MarketAxess by 1,250.0% during the third quarter. Squar Milner Financial Services LLC now owns 108 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of MarketAxess during the second quarter worth $36,000. Finally, Kavar Capital Partners LLC purchased a new stake in shares of MarketAxess during the second quarter worth $40,000. 98.81% of the stock is owned by hedge funds and other institutional investors.
NASDAQ MKTX traded up $0.40 during trading on Friday, reaching $350.00. 3,035 shares of the company traded hands, compared to its average volume of 277,474. The company has a market cap of $12.99 billion, a price-to-earnings ratio of 76.14 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.47 and a current ratio of 9.47. MarketAxess Holdings Inc. has a 1-year low of $199.04 and a 1-year high of $421.45. The stock’s 50 day moving average price is $345.18 and its two-hundred day moving average price is $335.59.
MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.25 by $0.17. The business had revenue of $131.60 million for the quarter, compared to the consensus estimate of $130.00 million. MarketAxess had a return on equity of 30.89% and a net margin of 40.58%. MarketAxess’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. Equities research analysts expect that MarketAxess Holdings Inc. will post 5.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be issued a $0.51 dividend. This is an increase from MarketAxess’s previous quarterly dividend of $0.20. This represents a $2.04 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, November 5th. MarketAxess’s payout ratio is presently 44.64%.
In other MarketAxess news, Director Richard Leon Prager bought 1,000 shares of MarketAxess stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $358.49 per share, with a total value of $358,490.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 3.28% of the stock is owned by insiders.
Several brokerages recently issued reports on MKTX. Buckingham Research increased their price objective on MarketAxess from $249.00 to $251.00 and gave the stock an “underperform” rating in a report on Thursday, October 24th. Deutsche Bank increased their price objective on MarketAxess from $347.00 to $349.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Argus began coverage on MarketAxess in a report on Thursday, August 29th. They set a “hold” rating on the stock. Jefferies Financial Group raised their target price on MarketAxess from $318.00 to $339.00 and gave the company a “hold” rating in a report on Friday, September 27th. Finally, Barclays set a $325.00 target price on MarketAxess and gave the company a “hold” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. MarketAxess currently has an average rating of “Hold” and an average price target of $296.67.
MarketAxess Company Profile
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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