New York State Teachers Retirement System Sells 2,015 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

New York State Teachers Retirement System trimmed its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,674 shares of the financial services provider's stock after selling 2,015 shares during the quarter. New York State Teachers Retirement System owned 0.09% of MarketAxess worth $8,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MKTX. Wilson Asset Management International PTY Ltd. boosted its stake in MarketAxess by 70.0% in the 3rd quarter. Wilson Asset Management International PTY Ltd. now owns 47,795 shares of the financial services provider's stock worth $12,245,000 after purchasing an additional 19,676 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of MarketAxess by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 4,405 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 295 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of MarketAxess by 1.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider's stock valued at $1,287,000 after purchasing an additional 52 shares in the last quarter. Forsta AP Fonden acquired a new stake in shares of MarketAxess in the third quarter worth $1,947,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MarketAxess by 42.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,429 shares of the financial services provider's stock valued at $874,000 after buying an additional 1,024 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

Insider Transactions at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.66% of the company's stock.

MarketAxess Stock Performance

Shares of NASDAQ MKTX traded up $0.20 during trading hours on Monday, hitting $287.60. 340,412 shares of the company's stock were exchanged, compared to its average volume of 405,574. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 9.10 and a beta of 1.05. The company's 50-day moving average price is $266.65 and its 200-day moving average price is $231.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $297.97.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company had revenue of $197.70 million during the quarter, compared to analysts' expectations of $198.07 million. During the same period in the prior year, the business earned $1.63 earnings per share. MarketAxess's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an "underperform" rating on the stock in a report on Thursday, October 3rd. Morgan Stanley lifted their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Citigroup increased their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Barclays boosted their price target on MarketAxess from $237.00 to $268.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Two research 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 data from MarketBeat, MarketAxess presently has a consensus rating of "Hold" and a consensus target price of $253.30.

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.