MarketAxess (NASDAQ:MKTX) Price Target Lowered to $255.00 at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX) had its target price dropped by analysts at Keefe, Bruyette & Woods from $276.00 to $255.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 11.84% from the stock’s previous close.

Several other research firms have also commented on MKTX. Barclays decreased their price objective on shares of MarketAxess from $289.00 to $260.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. UBS Group lifted their price target on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Two research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $264.60.

MarketAxess Stock Down 0.2 %

Shares of NASDAQ:MKTX opened at $228.00 on Friday. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 10.54 and a beta of 1.00. The business’s 50 day moving average is $267.00 and its 200 day moving average is $242.47. MarketAxess has a 12-month low of $192.42 and a 12-month high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The firm had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities research analysts expect that MarketAxess will post 7.38 earnings per share for the current year.

Insider Activity

In other news, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total value of $72,171.00. Following the transaction, the general counsel now owns 8,302 shares of the company’s stock, valued at $1,997,212.14. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Mcvey sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the sale, the chairman now owns 562,029 shares in the company, valued at approximately $150,438,302.43. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,300 shares of company stock worth $8,183,871 in the last three months. Corporate insiders own 2.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MKTX. Retirement Planning Co of New England Inc. grew its holdings in shares of MarketAxess by 2.9% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 44 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of MarketAxess by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock valued at $3,953,000 after acquiring an additional 50 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in MarketAxess by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock valued at $1,479,000 after acquiring an additional 52 shares during the period. DekaBank Deutsche Girozentrale grew its position in MarketAxess by 1.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 52 shares during the last quarter. Finally, M&T Bank Corp lifted its position in MarketAxess by 4.0% in the third quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 56 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

About MarketAxess

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.