Geneva Capital Management LLC Grows Stock Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Geneva Capital Management LLC lifted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 25.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,325 shares of the financial services provider's stock after acquiring an additional 3,121 shares during the quarter. Geneva Capital Management LLC's holdings in MarketAxess were worth $3,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Goodman Advisory Group LLC purchased a new position in shares of MarketAxess in the second quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings in shares of MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider's stock worth $43,000 after buying an additional 158 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in MarketAxess during the third quarter valued at approximately $54,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in MarketAxess by 555.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 200 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 81 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MKTX has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of MarketAxess from $270.00 to $276.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. StockNews.com raised shares of MarketAxess from a "sell" rating to a "hold" rating in a report on Wednesday, August 7th. Barclays boosted their target price on shares of MarketAxess from $237.00 to $268.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Piper Sandler reissued a "neutral" rating and issued a $265.00 target price on shares of MarketAxess in a report on Thursday, November 7th. Finally, Morgan Stanley boosted their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $267.50.

MarketAxess Trading Down 0.6 %

Shares of MKTX traded down $1.60 during trading hours on Wednesday, reaching $270.03. 101,027 shares of the company traded hands, compared to its average volume of 406,421. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 12.27 and a beta of 1.05. MarketAxess Holdings Inc. has a 12-month low of $192.42 and a 12-month high of $297.97. The stock's fifty day moving average price is $271.74 and its 200 day moving average price is $234.69.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The company had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. During the same period in the prior year, the firm earned $1.46 earnings per share. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, November 20th. MarketAxess's dividend payout ratio (DPR) is presently 40.11%.

MarketAxess announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.