State of Alaska Department of Revenue trimmed its position in MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) by 51.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,419 shares of the financial services provider's stock after selling 5,742 shares during the quarter. State of Alaska Department of Revenue's holdings in MarketAxess were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in MarketAxess by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,184,298 shares of the financial services provider's stock worth $1,423,499,000 after acquiring an additional 25,208 shares during the period. BlackRock Inc. increased its position in MarketAxess by 1.6% during the fourth quarter. BlackRock Inc. now owns 3,563,993 shares of the financial services provider's stock worth $1,465,763,000 after acquiring an additional 54,516 shares during the period. State Street Corp increased its position in MarketAxess by 0.7% during the first quarter. State Street Corp now owns 1,868,716 shares of the financial services provider's stock worth $635,737,000 after acquiring an additional 13,367 shares during the period. Royal Bank of Canada increased its position in MarketAxess by 4.0% during the first quarter. Royal Bank of Canada now owns 1,207,993 shares of the financial services provider's stock worth $410,959,000 after acquiring an additional 46,109 shares during the period. Finally, JPMorgan Chase & Co. increased its position in MarketAxess by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 656,218 shares of the financial services provider's stock worth $223,244,000 after acquiring an additional 27,469 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NASDAQ MKTX opened at $225.39 on Tuesday. The firm's 50-day simple moving average is $257.95 and its 200 day simple moving average is $275.22. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 35.33 and a beta of 0.61. MarketAxess Holdings Inc. has a 12-month low of $223.79 and a 12-month high of $434.14.
MarketAxess (NASDAQ:MKTX – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $185.24 million. MarketAxess had a net margin of 34.77% and a return on equity of 23.55%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. On average, equities analysts expect that MarketAxess Holdings Inc. will post 6.62 earnings per share for the current year.MarketAxess Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $2.80 annualized dividend and a yield of 1.24%. MarketAxess's dividend payout ratio (DPR) is 43.89%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Rosenblatt Securities assumed coverage on shares of MarketAxess in a research report on Wednesday, August 17th. They set a "sell" rating and a $231.00 target price on the stock. Piper Sandler lowered their price target on shares of MarketAxess from $300.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 1st. Atlantic Securities boosted their price target on shares of MarketAxess from $280.00 to $290.00 and gave the company a "neutral" rating in a report on Friday, August 19th. Jefferies Financial Group lowered their price target on shares of MarketAxess from $315.00 to $300.00 and set a "hold" rating on the stock in a report on Monday, June 27th. Finally, Morgan Stanley lowered their price target on shares of MarketAxess from $338.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold 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 $306.33.
MarketAxess Profile
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MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.
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