MarketAxess (NASDAQ:MKTX) Given New $264.00 Price Target at Deutsche Bank Aktiengesellschaft

MarketAxess (NASDAQ:MKTX) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research firms have also weighed in on MKTX. Citigroup increased their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Bank of America cut their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. UBS Group boosted their price objective on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price target on MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley raised their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. 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 stock. According to data from MarketBeat.com, MarketAxess currently has an average rating of “Hold” and a consensus price target of $267.50.

MarketAxess Stock Down 0.8 %

MKTX opened at $264.98 on Monday. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97. The company has a market cap of $9.99 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 12.06 and a beta of 1.05. The firm’s 50-day moving average price is $272.39 and its 200-day moving average price is $235.13.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue was up 20.0% on a year-over-year basis. On average, research analysts anticipate that MarketAxess will post 7.33 EPS for the current fiscal year.

MarketAxess declared that its board has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

MarketAxess Announces Dividend

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

Insider Transactions at MarketAxess

In other news, Chairman Richard M. Mcvey sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the sale, the chairman now owns 562,029 shares in the company, valued at $150,438,302.43. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Large investors have recently modified their holdings of the business. Accent Capital Management LLC purchased a new stake in MarketAxess in the third quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new stake in MarketAxess during the 2nd quarter worth about $27,000. 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 in the last quarter. CVA Family Office LLC boosted its holdings in shares of MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after buying an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in MarketAxess in the third quarter valued at $54,000. Institutional investors and hedge funds 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.