MarketAxess (NASDAQ:MKTX) Price Target Raised to $233.00 at The Goldman Sachs Group

MarketAxess (NASDAQ:MKTX) had its target price lifted by The Goldman Sachs Group from $204.00 to $233.00 in a research report report published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of MarketAxess from a sell rating to a hold rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of MarketAxess from $218.00 to $223.00 and gave the company a hold rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on shares of MarketAxess from $222.00 to $225.00 and gave the stock a market perform rating in a report on Wednesday, August 7th. Barclays dropped their price objective on MarketAxess from $225.00 to $215.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler restated a neutral rating and issued a $225.00 target price on shares of MarketAxess in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $239.40.

MarketAxess Stock Performance

Shares of MKTX stock opened at $256.20 on Monday. MarketAxess has a 12 month low of $192.42 and a 12 month high of $297.97. The stock has a market capitalization of $9.71 billion, a P/E ratio of 37.62, a PEG ratio of 6.04 and a beta of 1.07. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $241.55 and its 200 day moving average is $220.11.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $197.70 million during the quarter, compared to analyst estimates of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. On average, sell-side analysts anticipate that MarketAxess will post 7.06 earnings per share for the current year.

MarketAxess announced that its Board of Directors 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 purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

MarketAxess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.74 per share. This is a boost from MarketAxess’s previous quarterly dividend of $0.20. This represents a $2.96 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Wednesday, August 21st. MarketAxess’s dividend payout ratio (DPR) is presently 43.47%.

Insider Activity

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the transaction, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MarketAxess

Several institutional investors and hedge funds have recently bought and sold shares of MKTX. Parallel Advisors LLC boosted its stake in shares of MarketAxess by 155.8% during the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 67 shares during the period. Goodman Advisory Group LLC bought a new stake in MarketAxess during the 2nd quarter valued at $27,000. Larson Financial Group LLC boosted its position in MarketAxess by 2,428.6% during the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after buying an additional 170 shares during the period. Blue Trust Inc. grew its holdings in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 158 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of MarketAxess by 47.4% in the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 81 shares during the period. 99.01% of the stock is currently owned by institutional investors.

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.