Bank of Nova Scotia lifted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 33.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,463 shares of the financial services provider's stock after buying an additional 1,622 shares during the period. Bank of Nova Scotia's holdings in MarketAxess were worth $1,461,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of MarketAxess by 21.5% during the 4th quarter. Renaissance Technologies LLC now owns 227,880 shares of the financial services provider's stock worth $51,510,000 after buying an additional 40,270 shares during the last quarter. Invesco Ltd. raised its stake in shares of MarketAxess by 12.4% in the 4th quarter. Invesco Ltd. now owns 1,044,360 shares of the financial services provider's stock valued at $236,067,000 after acquiring an additional 115,186 shares during the period. Cerity Partners LLC raised its holdings in shares of MarketAxess by 29.1% during the 4th quarter. Cerity Partners LLC now owns 7,948 shares of the financial services provider's stock valued at $1,946,000 after buying an additional 1,792 shares during the period. FMR LLC lifted its holdings in MarketAxess by 17.4% in the 4th quarter. FMR LLC now owns 2,300,536 shares of the financial services provider's stock worth $520,013,000 after buying an additional 341,493 shares in the last quarter. Finally, 2Xideas AG boosted its stake in shares of MarketAxess by 28.0% during the 4th quarter. 2Xideas AG now owns 48,974 shares of the financial services provider's stock valued at $11,070,000 after buying an additional 10,705 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.
MarketAxess Price Performance
NASDAQ MKTX traded up $1.56 on Tuesday, reaching $223.98. The stock had a trading volume of 496,973 shares, compared to its average volume of 486,400. The company has a market cap of $8.44 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 3.89 and a beta of 1.12. The firm has a fifty day moving average of $205.93 and a two-hundred day moving average of $234.85. MarketAxess Holdings Inc. has a 1-year low of $186.84 and a 1-year high of $296.68.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. Research analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.
MarketAxess Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 19th were paid a $0.76 dividend. The ex-dividend date was Wednesday, February 19th. This is a positive change from MarketAxess's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 1.36%. MarketAxess's payout ratio is 41.82%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of MarketAxess from $220.00 to $213.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley raised shares of MarketAxess from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on MarketAxess from $251.00 to $225.00 and set a "market perform" rating on the stock in a research note on Friday, February 7th. Bank of America increased their price target on shares of MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Finally, Barclays lifted their target price on shares of MarketAxess from $225.00 to $232.00 and gave the stock an "equal weight" rating in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $252.11.
Get Our Latest Report on MarketAxess
MarketAxess Company Profile
(
Free Report)
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.
See Also
Before you consider MarketAxess, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MarketAxess wasn't on the list.
While MarketAxess currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
