Brokerages Set MarketAxess Holdings Inc. (NASDAQ:MKTX) Price Target at $261.30

MarketAxess Holdings Inc. (NASDAQ:MKTX) has received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $261.30.

MKTX has been the subject of a number of analyst reports. Bank of America reduced their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Morgan Stanley increased their price target on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays lowered 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, Piper Sandler lowered their target price on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th.

Insider Transactions at MarketAxess

In other MarketAxess news, General Counsel Scott Pintoff sold 300 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the transaction, the chairman now directly owns 592,029 shares of the company’s stock, valued at approximately $160,883,880.75. The trade was a 3.27 % decrease in their position. 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 in the last quarter. Company insiders own 2.66% of the company’s stock.

Institutional Investors Weigh In On MarketAxess

Institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in MarketAxess by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock worth $3,953,000 after purchasing an additional 50 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of MarketAxess by 1.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 52 shares during the last quarter. M&T Bank Corp boosted its position in shares of MarketAxess by 4.0% in the third quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of MarketAxess by 4.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock worth $324,000 after buying an additional 76 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its position in MarketAxess by 6.0% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 76 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Price Performance

NASDAQ:MKTX opened at $220.50 on Wednesday. MarketAxess has a 1-year low of $192.42 and a 1-year high of $296.68. The business has a 50 day moving average of $240.76 and a 200 day moving average of $246.91. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 6.67 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The firm had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same quarter in the previous year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MarketAxess will post 7.29 EPS for the current year.

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.