MarketAxess (NASDAQ:MKTX) Price Target Lowered to $251.00 at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX - Get Free Report) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $255.00 to $251.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 15.73% from the stock's previous close.

A number of other research firms have also commented on MKTX. The Goldman Sachs Group lifted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a report on Monday, September 30th. Bank of America decreased their price objective on MarketAxess from $193.00 to $185.00 and set an "underperform" rating for the company in a research note on Thursday, October 3rd. Citigroup increased their target price on MarketAxess from $310.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Piper Sandler decreased their target price on MarketAxess from $265.00 to $240.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays cut their price target on shares of MarketAxess from $260.00 to $256.00 and set an "equal weight" rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $261.30.

MarketAxess Stock Up 0.7 %

MKTX stock traded up $1.43 during trading on Monday, hitting $216.89. The company had a trading volume of 375,304 shares, compared to its average volume of 440,301. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 9.49 and a beta of 1.03. The firm has a 50-day moving average price of $246.71 and a 200-day moving average price of $246.17. MarketAxess has a 12 month low of $192.42 and a 12 month high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results 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 return on equity of 20.93% and a net margin of 34.32%. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The firm's quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts expect that MarketAxess will post 7.38 EPS for the current year.

Insider Activity

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the sale, the chairman now owns 592,029 shares in the company, valued at approximately $160,883,880.75. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the transaction, the general counsel now owns 8,302 shares of the company's stock, valued at approximately $1,997,212.14. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,300 shares of company stock worth $8,183,871 over the last ninety days. Insiders own 2.66% of the company's stock.

Institutional Trading of MarketAxess

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKTX. Accent Capital Management LLC acquired a new position in shares of MarketAxess during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in MarketAxess during the second quarter worth $27,000. Exchange Traded Concepts LLC bought a new position in MarketAxess during the third quarter worth $54,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of MarketAxess by 555.6% in 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 during the last quarter. Finally, Assetmark Inc. raised its position in shares of MarketAxess by 160.3% in the third quarter. Assetmark Inc. now owns 380 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 234 shares during the period. 99.01% of the stock is owned by institutional investors.

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.