Praxis Investment Management Inc. Has $275,000 Stock Position in MarketAxess Holdings Inc. $MKTX

Praxis Investment Management Inc. decreased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 29.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,230 shares of the financial services provider’s stock after selling 510 shares during the period. Praxis Investment Management Inc.’s holdings in MarketAxess were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MKTX. Geneos Wealth Management Inc. grew its stake in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 80 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of MarketAxess in the second quarter worth $37,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of MarketAxess by 51.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 84 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of MarketAxess in the first quarter worth $65,000. Finally, Signaturefd LLC grew its stake in shares of MarketAxess by 173.0% in the first quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of NASDAQ:MKTX opened at $171.26 on Friday. MarketAxess Holdings Inc. has a 52 week low of $161.61 and a 52 week high of $296.68. The company’s fifty day moving average is $180.84 and its 200-day moving average is $204.37. The company has a market capitalization of $6.40 billion, a PE ratio of 28.83, a P/E/G ratio of 6.91 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. During the same quarter in the previous year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Insider Buying and Selling at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the sale, the executive owned 67,681 shares in the company, valued at approximately $12,542,642.92. The trade was a 2.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen P. Casper sold 1,600 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director owned 43,208 shares in the company, valued at $8,062,180.72. This represents a 3.57% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MKTX shares. Argus upgraded shares of MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price objective on the stock in a research note on Monday, August 25th. UBS Group decreased their price target on shares of MarketAxess from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of MarketAxess in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their price target on shares of MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley decreased their price target on shares of MarketAxess from $274.00 to $253.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MarketAxess has an average rating of “Hold” and an average target price of $216.58.

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.