Keefe, Bruyette & Woods Has Lowered Expectations for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX) had its price objective cut by equities researchers at Keefe, Bruyette & Woods from $255.00 to $251.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 16.19% from the company’s current price.

Several other equities analysts have also recently issued reports on MKTX. Morgan Stanley upped their target price on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays lowered their price target on MarketAxess from $260.00 to $256.00 and set an “equal weight” rating on the stock in a report on Monday. Piper Sandler reduced their price objective on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Bank of America reduced their price target on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $261.30.

MarketAxess Stock Up 0.3 %

Shares of NASDAQ MKTX traded up $0.56 during midday trading on Monday, hitting $216.02. The stock had a trading volume of 150,491 shares, compared to its average volume of 406,633. The business’s 50 day moving average is $246.71 and its 200-day moving average is $246.17. MarketAxess has a 52 week low of $192.42 and a 52 week high of $296.68. The company has a market cap of $8.14 billion, a P/E ratio of 29.27, a PEG ratio of 9.49 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. As a group, analysts expect that MarketAxess will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Richard M. Mcvey sold 20,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 30,300 shares of company stock worth $8,183,871. 2.66% of the stock is owned by insiders.

Hedge Funds Weigh In On MarketAxess

A number of large investors have recently bought and sold shares of MKTX. Asset Management One Co. Ltd. boosted its position in shares of MarketAxess by 0.3% in 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 in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of MarketAxess by 1.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock valued at $1,287,000 after acquiring an additional 52 shares during the period. M&T Bank Corp lifted its position in MarketAxess by 4.0% during the 3rd 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 period. Northwestern Mutual Wealth Management Co. grew its stake in 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 valued at $324,000 after purchasing an additional 76 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of MarketAxess by 6.0% in the third quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 76 shares during the period. Institutional investors own 99.01% of the company’s stock.

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.