Sei Investments Co. Cuts Stock Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Sei Investments Co. reduced its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 104,786 shares of the financial services provider's stock after selling 4,482 shares during the period. Sei Investments Co. owned approximately 0.28% of MarketAxess worth $23,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKTX. Van ECK Associates Corp boosted its holdings in shares of MarketAxess by 13.4% in the 4th quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider's stock worth $452,246,000 after purchasing an additional 236,497 shares in the last quarter. FMR LLC lifted its position in MarketAxess by 17.5% in the 3rd quarter. FMR LLC now owns 1,959,043 shares of the financial services provider's stock worth $501,907,000 after buying an additional 291,134 shares during the last quarter. Primecap Management Co. CA boosted its stake in MarketAxess by 2.3% in the fourth quarter. Primecap Management Co. CA now owns 1,369,102 shares of the financial services provider's stock worth $309,472,000 after buying an additional 30,180 shares in the last quarter. Geode Capital Management LLC grew its position in MarketAxess by 14.9% during the third quarter. Geode Capital Management LLC now owns 1,076,877 shares of the financial services provider's stock valued at $275,122,000 after acquiring an additional 139,949 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in MarketAxess by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 440,934 shares of the financial services provider's stock valued at $99,669,000 after acquiring an additional 11,291 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

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

MarketAxess Stock Down 1.0 %

Shares of MKTX traded down $2.26 during trading hours on Friday, reaching $216.75. 365,011 shares of the company traded hands, compared to its average volume of 460,718. MarketAxess Holdings Inc. has a 12 month low of $186.84 and a 12 month high of $296.68. The company's fifty day moving average price is $207.57 and its two-hundred day moving average price is $238.95. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 earnings per share 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, analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

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