Deutsche Bank Aktiengesellschaft Increases MarketAxess (NASDAQ:MKTX) Price Target to $223.00

MarketAxess (NASDAQ:MKTX) had its target price increased by equities researchers at Deutsche Bank Aktiengesellschaft from $218.00 to $223.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential downside of 5.25% from the company’s previous close.

Several other research firms have also issued reports on MKTX. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. UBS Group lowered their price target on MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Keefe, Bruyette & Woods upped their target price on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of MarketAxess in a research report on Tuesday, August 6th. Finally, Barclays cut their price target on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, MarketAxess has an average rating of “Hold” and a consensus target price of $238.60.

MarketAxess Stock Down 2.3 %

Shares of MKTX traded down $5.60 during mid-day trading on Thursday, reaching $235.35. The company had a trading volume of 139,860 shares, compared to its average volume of 420,030. The stock has a market capitalization of $8.92 billion, a P/E ratio of 34.57, a PEG ratio of 5.87 and a beta of 1.03. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97. The stock has a 50 day moving average of $212.36 and a two-hundred day moving average of $213.96.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. The business had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. During the same quarter in the prior year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that MarketAxess will post 7 earnings per share for the current year.

MarketAxess declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the transaction, the insider now directly owns 7,409 shares in the company, valued at $1,716,146.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other MarketAxess news, Director Stephen P. Casper sold 500 shares of MarketAxess stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $199.48, for a total transaction of $99,740.00. Following the completion of the sale, the director now directly owns 10,201 shares in the company, valued at $2,034,895.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total transaction of $142,915.71. Following the completion of the transaction, the insider now owns 7,409 shares in the company, valued at $1,716,146.67. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by company insiders.

Institutional Trading of MarketAxess

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its stake in MarketAxess by 1,030.8% during the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock worth $32,000 after buying an additional 134 shares during the period. Parallel Advisors LLC raised its stake in shares of MarketAxess by 155.8% in the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 67 shares in the last quarter. Larson Financial Group LLC boosted its holdings in MarketAxess by 2,428.6% in the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 170 shares during the period. Blue Trust Inc. boosted its holdings in MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 158 shares during the period. Finally, Principal Securities Inc. acquired a new position in MarketAxess during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.