Comerica Bank Has $1.67 Million Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Comerica Bank cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,690 shares of the financial services provider’s stock after selling 81 shares during the quarter. Comerica Bank’s holdings in MarketAxess were worth $1,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MKTX. Allworth Financial LP increased its holdings in MarketAxess by 347.6% in the fourth quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 73 shares during the period. Gladius Capital Management LP increased its holdings in MarketAxess by 39.6% in the third quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 38 shares during the period. Parallel Advisors LLC increased its holdings in MarketAxess by 155.8% in the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 67 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in MarketAxess by 47.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 43 shares during the period. Finally, Principal Securities Inc. acquired a new stake in MarketAxess in the fourth quarter valued at $47,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MKTX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a report on Wednesday, May 8th. Morgan Stanley increased their price target on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities decreased their price target on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Piper Sandler decreased their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, UBS Group decreased their price target on MarketAxess from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $249.73.

MarketAxess Price Performance

Shares of MKTX stock traded up $2.40 on Friday, reaching $216.89. 215,875 shares of the company were exchanged, compared to its average volume of 403,031. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 5.38 and a beta of 0.98. The company has a 50-day moving average of $212.20 and a 200-day moving average of $234.09. MarketAxess Holdings Inc. has a one year low of $198.01 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The company had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $212.99 million. MarketAxess had a net margin of 33.83% and a return on equity of 20.82%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 EPS. As a group, sell-side analysts predict that MarketAxess Holdings Inc. will post 7.17 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $0.74 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $2.96 annualized dividend and a yield of 1.36%. MarketAxess’s payout ratio is 43.47%.

About MarketAxess

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.