ICICI Prudential Asset Management Co Ltd Has $8.21 Million Stake in MarketAxess Holdings Inc. $MKTX

ICICI Prudential Asset Management Co Ltd boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 24.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,089 shares of the financial services provider’s stock after buying an additional 9,200 shares during the period. ICICI Prudential Asset Management Co Ltd owned approximately 0.13% of MarketAxess worth $8,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc bought a new stake in shares of MarketAxess during the 2nd quarter valued at $25,000. Geneos Wealth Management Inc. boosted its position in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its stake in shares of MarketAxess by 992.9% during the second quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 139 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in MarketAxess in the third quarter valued at about $38,000. Finally, Abich Financial Wealth Management LLC bought a new stake in MarketAxess in the third quarter valued at about $43,000. 99.01% of the stock is owned by institutional investors.

MarketAxess Stock Performance

MKTX opened at $180.70 on Friday. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 3.84 and a beta of 0.97. The business’s 50-day moving average price is $175.23 and its two-hundred day moving average price is $175.57. MarketAxess Holdings Inc. has a 1 year low of $156.17 and a 1 year high of $232.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.42 and a quick ratio of 2.60.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The firm had revenue of $209.41 million for the quarter, compared to the consensus estimate of $214.06 million. During the same quarter in the previous year, the business posted $1.73 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th will be given a $0.78 dividend. This is a boost from MarketAxess’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, February 18th. MarketAxess’s payout ratio is presently 46.85%.

Analysts Set New Price Targets

MKTX has been the topic of a number of recent analyst reports. Morgan Stanley reduced their target price on MarketAxess from $204.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Piper Sandler reduced their price objective on shares of MarketAxess from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Argus lowered their target price on shares of MarketAxess from $212.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Keefe, Bruyette & Woods lifted their price target on shares of MarketAxess from $194.00 to $198.00 and gave the stock a “market perform” rating in a research report on Monday, November 10th. Finally, UBS Group decreased their price target on shares of MarketAxess from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MarketAxess presently has an average rating of “Hold” and a consensus price target of $200.40.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.