Envestnet Asset Management Inc. Purchases 3,541 Shares of MarketAxess Holdings Inc. $MKTX

Envestnet Asset Management Inc. raised its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 6.1% in the second quarter, HoldingsChannel.com reports. The firm owned 61,657 shares of the financial services provider’s stock after buying an additional 3,541 shares during the period. Envestnet Asset Management Inc.’s holdings in MarketAxess were worth $13,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MKTX. Geneos Wealth Management Inc. lifted its stake in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after buying an additional 80 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of MarketAxess in the 2nd quarter worth about $37,000. MassMutual Private Wealth & Trust FSB lifted its position in MarketAxess by 51.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 84 shares in the last quarter. Signaturefd LLC boosted its stake in MarketAxess by 173.0% during the 1st quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. Finally, Quarry LP boosted its stake in MarketAxess by 96.7% during the 1st quarter. Quarry LP now owns 356 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

MKTX has been the topic of a number of recent research reports. UBS Group dropped their target price on MarketAxess from $255.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Loop Capital set a $164.00 price target on MarketAxess in a research report on Tuesday, October 14th. Zacks Research cut MarketAxess from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Piper Sandler set a $180.00 target price on shares of MarketAxess in a research note on Tuesday, October 14th. Finally, Argus upgraded shares of MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus target price of $216.58.

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $167.27 on Friday. MarketAxess Holdings Inc. has a 1 year low of $156.17 and a 1 year high of $277.84. The company has a market capitalization of $6.25 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 6.44 and a beta of 0.94. The business has a fifty day moving average price of $174.16 and a two-hundred day moving average price of $199.18.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $208.82 million for the quarter, compared to analysts’ expectations of $212.59 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 EPS. Sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, November 19th. MarketAxess’s payout ratio is presently 51.18%.

Insider Transactions at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the completion of the transaction, the executive directly owned 67,681 shares of the company’s stock, valued at $12,542,642.92. This represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the sale, the director owned 43,208 shares of the company’s stock, valued at approximately $8,062,180.72. The trade was a 3.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is owned by insiders.

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.