BidaskClub Upgrades MarketAxess (MKTX) to “Buy”

BidaskClub upgraded shares of MarketAxess (NASDAQ:MKTX) from a hold rating to a buy rating in a research note published on Thursday.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of MarketAxess from a buy rating to a hold rating in a report on Thursday, July 26th. Keefe, Bruyette & Woods reiterated a hold rating and set a $210.00 target price on shares of MarketAxess in a report on Thursday, July 26th. Zacks Investment Research upgraded shares of MarketAxess from a sell rating to a hold rating in a report on Tuesday, September 25th. Barclays reiterated a hold rating and set a $198.00 target price on shares of MarketAxess in a report on Friday, October 12th. Finally, Goldman Sachs Group assumed coverage on shares of MarketAxess in a report on Monday, November 5th. They set a sell rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. MarketAxess presently has an average rating of Hold and a consensus target price of $210.63.

Shares of MKTX opened at $213.50 on Thursday. MarketAxess has a one year low of $172.09 and a one year high of $229.84. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 50.24, a P/E/G ratio of 9.48 and a beta of 0.11.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, October 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.09. MarketAxess had a net margin of 37.97% and a return on equity of 29.40%. The firm had revenue of $101.44 million during the quarter, compared to analyst estimates of $101.19 million. During the same period last year, the business earned $0.90 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that MarketAxess will post 4.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were issued a $0.42 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.68 dividend on an annualized basis and a yield of 0.79%. MarketAxess’s payout ratio is currently 43.08%.

In related news, CEO Richard M. Mcvey sold 23,842 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $211.93, for a total value of $5,052,835.06. Following the completion of the transaction, the chief executive officer now directly owns 1,054,986 shares in the company, valued at approximately $223,583,182.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin M. Mcpherson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $216.89, for a total transaction of $542,225.00. The disclosure for this sale can be found here. 3.52% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MKTX. Principal Financial Group Inc. raised its holdings in MarketAxess by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 160,724 shares of the financial services provider’s stock worth $34,948,000 after acquiring an additional 836 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in MarketAxess by 32.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,470 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 1,090 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in MarketAxess by 13.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 5,144 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 600 shares during the last quarter. Bank of Montreal Can purchased a new position in MarketAxess in the 2nd quarter worth approximately $3,769,000. Finally, Amalgamated Bank raised its holdings in MarketAxess by 8.8% in the 2nd quarter. Amalgamated Bank now owns 8,951 shares of the financial services provider’s stock worth $1,771,000 after acquiring an additional 723 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

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 the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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