Envestnet Portfolio Solutions Inc. Increases Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Envestnet Portfolio Solutions Inc. grew its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 2,176.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,446 shares of the financial services provider's stock after acquiring an additional 20,504 shares during the quarter. Envestnet Portfolio Solutions Inc. owned about 0.06% of MarketAxess worth $4,848,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MKTX. Globeflex Capital L P purchased a new position in MarketAxess in the 4th quarter valued at about $743,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MarketAxess by 421.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,612 shares of the financial services provider's stock valued at $5,111,000 after buying an additional 18,274 shares during the period. HighTower Advisors LLC boosted its position in MarketAxess by 7.6% during the fourth quarter. HighTower Advisors LLC now owns 1,205 shares of the financial services provider's stock worth $272,000 after acquiring an additional 85 shares during the last quarter. AGF Management Ltd. purchased a new stake in MarketAxess in the 4th quarter worth approximately $2,214,000. Finally, Wealthfront Advisers LLC acquired a new position in MarketAxess in the 4th quarter valued at $631,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MKTX shares. UBS Group decreased their price objective on MarketAxess from $330.00 to $305.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Piper Sandler lowered their price target on MarketAxess from $265.00 to $240.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group cut their price objective on shares of MarketAxess from $235.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Keefe, Bruyette & Woods lowered their target price on shares of MarketAxess from $251.00 to $225.00 and set a "market perform" rating for the company in a report on Friday, February 7th. Finally, Barclays dropped their price target on shares of MarketAxess from $256.00 to $225.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, MarketAxess has a consensus rating of "Hold" and a consensus target price of $254.78.

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MarketAxess Stock Down 0.4 %

Shares of MarketAxess stock traded down $0.95 during trading hours on Friday, hitting $216.87. The company's stock had a trading volume of 796,982 shares, compared to its average volume of 440,748. The company has a market capitalization of $8.17 billion, a PE ratio of 29.83, a P/E/G ratio of 3.89 and a beta of 1.05. The business has a fifty day moving average of $207.93 and a 200 day moving average of $240.44. 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 released 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 return on equity of 20.23% and a net margin of 33.56%. On average, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 19th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from MarketAxess's previous quarterly dividend of $0.74. MarketAxess's dividend payout ratio is currently 41.82%.

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.