Burgundy Asset Management Ltd. Has $127.26 Million Position in MarketAxess Holdings Inc. $MKTX

Burgundy Asset Management Ltd. lifted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 67.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692,216 shares of the financial services provider’s stock after purchasing an additional 277,846 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in MarketAxess were worth $127,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MUFG Securities EMEA plc acquired a new stake in MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of MarketAxess by 992.9% in the 2nd quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 139 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of MarketAxess during the 3rd quarter valued at $38,000. Finally, Abich Financial Wealth Management LLC bought a new stake in MarketAxess during the 3rd quarter worth $43,000. Institutional investors own 99.01% of the company’s stock.

MarketAxess Price Performance

Shares of NASDAQ MKTX opened at $189.46 on Thursday. The company has a market capitalization of $6.74 billion, a PE ratio of 28.45, a P/E/G ratio of 4.21 and a beta of 0.93. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. MarketAxess Holdings Inc. has a twelve month low of $156.17 and a twelve month high of $232.84. The firm has a fifty day simple moving average of $176.24 and a 200 day simple moving average of $175.10.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The firm had revenue of $209.41 million for the quarter, compared to the consensus estimate of $214.06 million. During the same period last year, the company posted $1.73 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were paid a dividend of $0.78 per share. This is an increase from MarketAxess’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, February 18th. MarketAxess’s payout ratio is 46.85%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Barclays lowered their price objective on MarketAxess from $182.00 to $178.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Morgan Stanley cut their target price on shares of MarketAxess from $204.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Argus decreased their price target on shares of MarketAxess from $212.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Finally, Piper Sandler dropped their price target on shares of MarketAxess from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.40.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.