MarketAxess (NASDAQ:MKTX) Price Target Increased to $249.00 by Analysts at Buckingham Research

MarketAxess (NASDAQ:MKTX) had its price objective upped by Buckingham Research from $241.00 to $249.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. Buckingham Research currently has an underperform rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of MarketAxess from a buy rating to a hold rating in a research note on Wednesday. BidaskClub cut shares of MarketAxess from a strong-buy rating to a buy rating in a research note on Thursday, September 12th. Deutsche Bank raised their price target on shares of MarketAxess from $332.00 to $336.00 and gave the stock a hold rating in a research note on Wednesday, August 14th. Argus initiated coverage on shares of MarketAxess in a research note on Thursday, August 29th. They set a hold rating for the company. Finally, Jefferies Financial Group raised their price target on shares of MarketAxess from $318.00 to $339.00 and gave the stock a hold rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. MarketAxess currently has a consensus rating of Hold and an average target price of $288.17.

Shares of NASDAQ MKTX traded up $10.09 during mid-day trading on Thursday, hitting $346.95. The company had a trading volume of 265,783 shares, compared to its average volume of 375,391. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05. The business’s 50-day simple moving average is $364.05 and its 200-day simple moving average is $318.36. MarketAxess has a 12 month low of $182.99 and a 12 month high of $421.45. The firm has a market cap of $12.27 billion, a P/E ratio of 75.92 and a beta of 0.14.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). The business had revenue of $125.50 million for the quarter, compared to the consensus estimate of $126.06 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, sell-side analysts predict that MarketAxess will post 5.22 EPS for the current year.

In other news, CEO Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the completion of the sale, the chief executive officer now owns 1,044,249 shares of the company’s stock, valued at $365,560,247.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen P. Casper sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $402.82, for a total transaction of $402,820.00. Following the sale, the director now directly owns 13,567 shares of the company’s stock, valued at approximately $5,465,058.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,750 shares of company stock valued at $8,359,543. Corporate insiders own 3.28% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MKTX. CWM LLC increased 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 buying an additional 34 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of MarketAxess during the second quarter worth approximately $36,000. Kavar Capital Partners LLC acquired a new stake in shares of MarketAxess during the second quarter worth approximately $40,000. AdvisorNet Financial Inc increased its holdings in shares of MarketAxess by 41.7% during the second quarter. AdvisorNet Financial Inc now owns 170 shares of the financial services provider’s stock worth $55,000 after buying an additional 50 shares in the last quarter. Finally, Capital Bank & Trust Co increased its holdings in shares of MarketAxess by 25.0% during the second quarter. Capital Bank & Trust Co now owns 210 shares of the financial services provider’s stock worth $67,000 after buying an additional 42 shares in the last quarter. 99.77% of the stock is owned by institutional investors.

About MarketAxess

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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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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