MarketAxess Holdings, Inc. (MKTX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) from a sell rating to a hold rating in a report released on Monday morning.

According to Zacks, “Year to date, the stock of MarketAxess Holdings’  outperformed the industry it belongs to. Its underwriting results have been consistently impressive driven by growth in revenues, improving trading volumes, ongoing investments in areas including Open Trading, launch of products and its strong market position in the U.S. credit. Also, it continues to benefit from its international business, with strength in both emerging markets and Eurobond spaces. However, it severely suffers from escalating expenses. The company’s operation is also hurt by stringent regulation of U.S and U.K. Intense competition remains another headwind.”

Several other equities research analysts also recently weighed in on MKTX. BidaskClub raised MarketAxess Holdings from a hold rating to a buy rating in a report on Friday, June 16th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $205.00 price target on shares of MarketAxess Holdings in a report on Thursday, July 6th. Finally, Raymond James Financial, Inc. increased their price target on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an outperform rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $197.17.

Shares of MarketAxess Holdings (NASDAQ MKTX) opened at 180.33 on Monday. MarketAxess Holdings has a 52 week low of $145.10 and a 52 week high of $211.06. The firm’s 50-day moving average is $194.57 and its 200 day moving average is $192.44. The firm has a market capitalization of $6.77 billion, a PE ratio of 47.43 and a beta of 0.70.

MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $97.31 million during the quarter, compared to the consensus estimate of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. On average, equities analysts forecast that MarketAxess Holdings will post $4.11 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, August 8th. MarketAxess Holdings’s dividend payout ratio (DPR) is currently 34.65%.

In other MarketAxess Holdings news, CEO Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $198.63, for a total value of $3,972,600.00. Following the completion of the sale, the chief executive officer now owns 1,108,142 shares of the company’s stock, valued at $220,110,245.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.51% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in MarketAxess Holdings by 2.1% in the second quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock valued at $616,087,000 after acquiring an additional 62,914 shares during the period. Vanguard Group Inc. lifted its holdings in MarketAxess Holdings by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock valued at $582,038,000 after acquiring an additional 38,702 shares during the period. Baillie Gifford & Co. lifted its holdings in MarketAxess Holdings by 5.1% in the second quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock valued at $553,618,000 after acquiring an additional 134,588 shares during the period. State Street Corp lifted its holdings in MarketAxess Holdings by 0.4% in the second quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock valued at $198,075,000 after acquiring an additional 4,168 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in MarketAxess Holdings by 8.4% in the second quarter. Franklin Resources Inc. now owns 869,065 shares of the financial services provider’s stock valued at $174,782,000 after acquiring an additional 67,254 shares during the period. 91.13% of the stock is owned by institutional investors.

About MarketAxess Holdings

MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.

Analyst Recommendations for MarketAxess Holdings (NASDAQ:MKTX)

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