Buckingham Research Begins Coverage on MarketAxess (MKTX)

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Buckingham Research began coverage on shares of MarketAxess (NASDAQ:MKTX) in a research report report published on Thursday, MarketBeat reports. The firm issued a neutral rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on MKTX. BidaskClub upgraded MarketAxess from a hold rating to a buy rating in a research note on Saturday, December 8th. Zacks Investment Research raised MarketAxess from a hold rating to a buy rating and set a $246.00 price target on the stock in a research report on Wednesday, December 5th. Goldman Sachs Group began coverage on MarketAxess in a research report on Monday, November 5th. They set a sell rating on the stock. ValuEngine raised MarketAxess from a hold rating to a buy rating in a research report on Thursday, October 4th. Finally, Barclays reissued a hold rating and set a $198.00 price target on shares of MarketAxess in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $215.50.

Shares of NASDAQ MKTX opened at $212.59 on Thursday. The company has a market cap of $8.01 billion, a PE ratio of 54.51, a PEG ratio of 8.26 and a beta of 0.18. MarketAxess has a 1-year low of $172.09 and a 1-year high of $231.33.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The company had revenue of $101.44 million for the quarter, compared to analyst estimates of $101.19 million. MarketAxess had a return on equity of 29.40% and a net margin of 37.97%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. On average, research analysts expect that MarketAxess will post 4.51 EPS for the current year.

In other MarketAxess news, insider Kevin M. Mcpherson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $216.89, for a total value of $542,225.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard M. Mcvey sold 23,842 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $211.93, for a total value of $5,052,835.06. Following the completion of the sale, the chief executive officer now directly owns 1,054,986 shares in the company, valued at approximately $223,583,182.98. The disclosure for this sale can be found here. Corporate insiders own 3.52% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at $1,245,000. Vident Investment Advisory LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at $761,000. Wells Fargo & Company MN boosted its holdings in shares of MarketAxess by 11.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,253,683 shares of the financial services provider’s stock valued at $223,770,000 after purchasing an additional 124,489 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of MarketAxess by 0.7% in the 3rd quarter. Standard Life Aberdeen plc now owns 128,185 shares of the financial services provider’s stock valued at $22,891,000 after purchasing an additional 897 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of MarketAxess by 8.9% in the 3rd quarter. Victory Capital Management Inc. now owns 89,754 shares of the financial services provider’s stock valued at $16,021,000 after purchasing an additional 7,355 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

About MarketAxess

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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