UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 31,127 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,195 shares of the financial services provider’s stock after selling 31,127 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.67% of MarketAxess worth $64,356,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Accent Capital Management LLC bought a new position in MarketAxess in the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new stake in MarketAxess in the 2nd quarter worth approximately $27,000. Blue Trust Inc. increased its stake in shares of MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of MarketAxess during the 3rd quarter valued at $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after buying an additional 200 shares during the period. Institutional investors own 99.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley raised 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. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of MarketAxess in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Bank of America reduced their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Finally, Citigroup boosted their target price on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $267.50.

Insider Activity at MarketAxess

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the transaction, the chairman now directly owns 592,029 shares in the company, valued at $160,883,880.75. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.66% of the stock is owned by insiders.

MarketAxess Trading Up 1.8 %

NASDAQ:MKTX opened at $263.47 on Tuesday. The company’s 50 day moving average is $273.61 and its two-hundred day moving average is $240.32. The company has a market cap of $9.93 billion, a PE ratio of 35.70, a P/E/G ratio of 11.62 and a beta of 1.05. MarketAxess Holdings Inc. has a twelve month low of $192.42 and a twelve month high of $297.97.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The firm had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same period in the previous year, the company earned $1.46 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, analysts expect that MarketAxess Holdings Inc. will post 7.37 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is 40.11%.

MarketAxess announced that its Board of Directors has approved a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

MarketAxess 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.