MarketAxess (NASDAQ:MKTX) Posts Earnings Results, Beats Expectations By $0.03 EPS

MarketAxess (NASDAQ:MKTX) released its quarterly earnings data on Thursday. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03, Zacks reports. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%.

MarketAxess Stock Up 1.6 %

Shares of MarketAxess stock traded up $3.08 during trading hours on Thursday, hitting $201.15. 430,748 shares of the company’s stock traded hands, compared to its average volume of 478,607. MarketAxess has a twelve month low of $192.42 and a twelve month high of $296.68. The company has a market cap of $7.58 billion, a PE ratio of 27.21, a PEG ratio of 4.48 and a beta of 1.02. The stock has a 50 day simple moving average of $228.97 and a 200-day simple moving average of $247.31.

Wall Street Analyst Weigh In

MKTX has been the subject of several research analyst reports. Piper Sandler dropped their price target on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. UBS Group increased their target price on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays dropped their price objective on shares of MarketAxess from $260.00 to $256.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lowered their price target on MarketAxess from $255.00 to $251.00 and set a “market perform” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $267.00.

Insider Transactions at MarketAxess

In related news, Chairman Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total value of $5,435,000.00. Following the completion of the sale, the chairman now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the sale, the general counsel now owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,300 shares of company stock valued at $8,183,871. 2.66% of the stock is currently owned by insiders.

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.