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Raymond James Financial Inc. Makes New Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

MarketAxess logo with Finance background

Raymond James Financial Inc. acquired a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 203,854 shares of the financial services provider's stock, valued at approximately $46,079,000. Raymond James Financial Inc. owned approximately 0.54% of MarketAxess as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. APG Asset Management N.V. purchased a new stake in MarketAxess in the fourth quarter worth about $4,431,000. Bank of Nova Scotia boosted its holdings in MarketAxess by 33.5% in the fourth quarter. Bank of Nova Scotia now owns 6,463 shares of the financial services provider's stock worth $1,461,000 after purchasing an additional 1,622 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of MarketAxess by 21.5% in the fourth quarter. Renaissance Technologies LLC now owns 227,880 shares of the financial services provider's stock worth $51,510,000 after acquiring an additional 40,270 shares during the period. Invesco Ltd. increased its position in shares of MarketAxess by 12.4% during the 4th quarter. Invesco Ltd. now owns 1,044,360 shares of the financial services provider's stock valued at $236,067,000 after purchasing an additional 115,186 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in MarketAxess by 29.1% during the fourth quarter. Cerity Partners LLC now owns 7,948 shares of the financial services provider's stock valued at $1,946,000 after buying an additional 1,792 shares during the last quarter. Institutional investors own 99.01% of the company's stock.

MarketAxess Trading Up 1.1 %

Shares of MKTX traded up $2.43 during trading hours on Friday, reaching $225.16. 351,905 shares of the company traded hands, compared to its average volume of 486,004. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.89 and a beta of 1.12. MarketAxess Holdings Inc. has a 12-month low of $186.84 and a 12-month high of $296.68. The stock's fifty day moving average price is $206.94 and its 200 day moving average price is $234.55.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.35%. This is a boost from MarketAxess's previous quarterly dividend of $0.74. The ex-dividend date was Wednesday, February 19th. MarketAxess's dividend payout ratio is currently 41.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKTX. Piper Sandler reduced their target price on shares of MarketAxess from $220.00 to $213.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised MarketAxess from an "equal weight" rating to an "overweight" rating in a report on Tuesday, April 8th. Barclays lifted their target price on MarketAxess from $225.00 to $232.00 and gave the company an "equal weight" rating in a research note on Monday, April 7th. Bank of America boosted their target price on shares of MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MarketAxess has a consensus rating of "Hold" and a consensus price target of $252.11.

Read Our Latest Analysis on MKTX

MarketAxess Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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