MarketAxess Holdings Inc. (NASDAQ:MKTX) – Piper Sandler upped their FY2020 EPS estimates for MarketAxess in a report released on Tuesday, October 27th. Piper Sandler analyst R. Repetto now forecasts that the financial services provider will earn $7.67 per share for the year, up from their prior forecast of $7.57. Piper Sandler currently has a “Neutral” rating and a $535.00 target price on the stock. Piper Sandler also issued estimates for MarketAxess’ Q4 2020 earnings at $1.73 EPS, Q1 2021 earnings at $2.06 EPS, Q2 2021 earnings at $2.02 EPS, Q4 2021 earnings at $1.87 EPS, FY2021 earnings at $7.92 EPS, Q2 2022 earnings at $2.23 EPS, Q3 2022 earnings at $2.20 EPS and FY2022 earnings at $8.76 EPS.
Several other research analysts have also issued reports on MKTX. Rosenblatt Securities upped their target price on shares of MarketAxess from $523.00 to $561.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of MarketAxess from $517.00 to $562.00 and gave the stock a “hold” rating in a research report on Wednesday. Loop Capital boosted their price target on shares of MarketAxess from $551.00 to $621.00 in a research note on Wednesday. Credit Suisse Group boosted their price target on shares of MarketAxess from $489.00 to $492.00 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. Finally, BidaskClub raised shares of MarketAxess from a “buy” rating to a “strong-buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $475.67.
Shares of NASDAQ:MKTX opened at $557.02 on Thursday. MarketAxess has a 52-week low of $275.49 and a 52-week high of $575.60. The firm has a fifty day moving average of $495.91 and a 200 day moving average of $490.68. The firm has a market capitalization of $21.15 billion, a PE ratio of 80.73 and a beta of 0.52.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.04. MarketAxess had a net margin of 42.74% and a return on equity of 33.75%. The firm had revenue of $164.00 million during the quarter, compared to analyst estimates of $138.13 million. During the same period in the previous year, the business earned $1.42 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, November 9th. MarketAxess’s dividend payout ratio is currently 44.44%.
In related news, CEO Richard M. Mcvey sold 25,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $487.62, for a total transaction of $12,190,500.00. Also, CFO Antonio L. Delise sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $488.68, for a total transaction of $1,221,700.00. Following the completion of the sale, the chief financial officer now owns 33,584 shares in the company, valued at approximately $16,411,829.12. The disclosure for this sale can be found here. Insiders have sold 64,017 shares of company stock worth $29,924,704 in the last quarter. 3.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MKTX. Norway Savings Bank purchased a new stake in MarketAxess in the third quarter worth about $60,000. CWM LLC grew its holdings in shares of MarketAxess by 62.5% in the third quarter. CWM LLC now owns 130 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 50 shares during the period. IFP Advisors Inc grew its holdings in shares of MarketAxess by 51.1% in the second quarter. IFP Advisors Inc now owns 139 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 47 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of MarketAxess in the second quarter valued at about $79,000. Finally, Signaturefd LLC boosted its stake in MarketAxess by 22.6% during the second quarter. Signaturefd LLC now owns 168 shares of the financial services provider’s stock worth $84,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 91.72% of the company’s stock.
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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