MarketAxess (NASDAQ:MKTX) Given New $251.00 Price Target at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX) had its price objective reduced by Keefe, Bruyette & Woods from $255.00 to $251.00 in a research note published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group raised their target price on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. UBS Group lifted their price target on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup lifted their price target on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Bank of America dropped their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Finally, Morgan Stanley boosted their target price on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, MarketAxess presently has a consensus rating of “Hold” and an average target price of $261.30.

MarketAxess Stock Performance

Shares of MKTX opened at $217.82 on Monday. The stock has a 50-day simple moving average of $242.90 and a 200-day simple moving average of $246.20. The stock has a market capitalization of $8.21 billion, a PE ratio of 29.51, a PEG ratio of 9.49 and a beta of 1.03. MarketAxess has a 1 year low of $192.42 and a 1 year high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same quarter last year, the company earned $1.46 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts predict that MarketAxess will post 7.38 EPS for the current year.

Insider Activity at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the sale, the chairman now directly owns 592,029 shares in the company, valued at approximately $160,883,880.75. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Scott Pintoff sold 300 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the sale, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,300 shares of company stock worth $8,183,871 over the last three months. 2.66% of the stock is currently owned by corporate insiders.

Institutional Trading of MarketAxess

A number of institutional investors have recently bought and sold shares of MKTX. Millennium Management LLC boosted its position in MarketAxess by 2,889.6% during the second quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock worth $68,032,000 after purchasing an additional 327,913 shares in the last quarter. FMR LLC lifted its position in shares of MarketAxess by 17.5% in the third quarter. FMR LLC now owns 1,959,043 shares of the financial services provider’s stock valued at $501,907,000 after acquiring an additional 291,134 shares in the last quarter. Marshall Wace LLP lifted its position in shares of MarketAxess by 53.5% in the second quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after acquiring an additional 285,665 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in MarketAxess by 120.6% in the second quarter. Burgundy Asset Management Ltd. now owns 393,073 shares of the financial services provider’s stock valued at $78,823,000 after purchasing an additional 214,928 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in MarketAxess by 18.2% in the second quarter. Primecap Management Co. CA now owns 1,330,880 shares of the financial services provider’s stock valued at $266,881,000 after purchasing an additional 204,960 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.