MarketAxess (NASDAQ:MKTX) PT Raised to $218.00 at Deutsche Bank Aktiengesellschaft

MarketAxess (NASDAQ:MKTX) had its price target raised by equities researchers at Deutsche Bank Aktiengesellschaft from $208.00 to $218.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential downside of 6.27% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of MarketAxess from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of MarketAxess in a research report on Tuesday. Morgan Stanley raised their target price on shares of MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays decreased their target price on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America started coverage on shares of MarketAxess in a research report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarketAxess has an average rating of “Hold” and a consensus target price of $238.10.

MarketAxess Stock Performance

NASDAQ MKTX traded down $2.00 during trading hours on Wednesday, reaching $232.58. The company’s stock had a trading volume of 155,597 shares, compared to its average volume of 424,599. The stock has a market cap of $8.81 billion, a PE ratio of 34.42, a PEG ratio of 5.87 and a beta of 1.03. MarketAxess has a fifty-two week low of $192.42 and a fifty-two week high of $297.97. The company’s 50-day moving average is $207.92 and its two-hundred day moving average is $215.11.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.83% and a return on equity of 20.82%. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $198.07 million. During the same period in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Equities analysts expect that MarketAxess will post 7 earnings per share for the current fiscal year.

MarketAxess announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other MarketAxess news, Director Stephen P. Casper sold 500 shares of MarketAxess stock in a transaction on Friday, June 7th. The shares were sold at an average price of $199.48, for a total value of $99,740.00. Following the completion of the transaction, the director now owns 10,201 shares of the company’s stock, valued at $2,034,895.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

A number of hedge funds have recently added to or reduced their stakes in MKTX. Vanguard Group Inc. boosted its holdings in shares of MarketAxess by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,539,440 shares of the financial services provider’s stock valued at $995,272,000 after acquiring an additional 13,018 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in shares of MarketAxess by 30.3% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock valued at $531,878,000 after acquiring an additional 564,820 shares during the period. Van ECK Associates Corp boosted its holdings in shares of MarketAxess by 10.3% during the second quarter. Van ECK Associates Corp now owns 1,828,055 shares of the financial services provider’s stock valued at $366,580,000 after acquiring an additional 170,095 shares during the period. Primecap Management Co. CA boosted its holdings in shares of MarketAxess by 0.4% during the fourth quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock valued at $328,742,000 after acquiring an additional 4,340 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in shares of MarketAxess by 40.0% during the first quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock valued at $157,134,000 after acquiring an additional 204,660 shares during the period. 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.