Norris Perne & French LLP MI Buys 788 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Norris Perne & French LLP MI raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,054 shares of the financial services provider’s stock after buying an additional 788 shares during the period. Norris Perne & French LLP MI owned 0.10% of MarketAxess worth $9,493,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Retirement Planning Co of New England Inc. boosted its stake in MarketAxess by 2.9% in the second quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 44 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of MarketAxess by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock valued at $1,479,000 after buying an additional 52 shares during the period. DekaBank Deutsche Girozentrale grew its stake in MarketAxess by 1.0% during the third 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $324,000 after acquiring an additional 76 shares during the period. Finally, CVA Family Office LLC lifted its stake in MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 81 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Insider Transactions at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the completion of the sale, the insider now directly owns 7,409 shares in the company, valued at $1,716,146.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.66% of the company’s stock.

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $289.42 on Friday. The company’s fifty day moving average is $264.54 and its 200 day moving average is $229.70. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. MarketAxess Holdings Inc. has a 52 week low of $192.42 and a 52 week high of $297.97. The stock has a market cap of $10.93 billion, a PE ratio of 41.70, a PEG ratio of 6.50 and a beta of 1.08.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. The company had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. MarketAxess’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Research analysts anticipate that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current year.

MarketAxess announced that its board has authorized a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MKTX shares. Piper Sandler upped their price target on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Barclays upped their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $253.30.

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.