Taylor Hoffman Capital Management LLC Purchases New Position in MarketAxess Holdings Inc. $MKTX

Taylor Hoffman Capital Management LLC acquired a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,287 shares of the financial services provider’s stock, valued at approximately $3,361,000. Taylor Hoffman Capital Management LLC owned approximately 0.05% of MarketAxess at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of MarketAxess by 151.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock worth $580,000 after buying an additional 1,614 shares during the period. Empowered Funds LLC increased its holdings in MarketAxess by 8.4% in the 1st quarter. Empowered Funds LLC now owns 1,716 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 133 shares in the last quarter. Woodline Partners LP raised its position in MarketAxess by 40.7% during the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 921 shares during the period. Geneos Wealth Management Inc. lifted its holdings in MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of MarketAxess in the second quarter valued at about $406,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MKTX shares. Piper Sandler lowered their target price 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. Morgan Stanley decreased their price target on shares of MarketAxess from $204.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Barclays cut their price objective on shares of MarketAxess from $182.00 to $178.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. UBS Group lowered their target price on MarketAxess from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Finally, Keefe, Bruyette & Woods increased their price target on MarketAxess from $194.00 to $198.00 and gave the company a “market perform” rating in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MarketAxess presently has an average rating of “Hold” and a consensus target price of $200.40.

MarketAxess Price Performance

MKTX stock opened at $179.36 on Friday. The business’s fifty day moving average price is $174.77 and its 200 day moving average price is $176.16. MarketAxess Holdings Inc. has a 12-month low of $156.17 and a 12-month high of $232.84. The company has a market capitalization of $6.67 billion, a PE ratio of 26.93, a P/E/G ratio of 4.38 and a beta of 0.97. The company has a current ratio of 3.42, a quick ratio of 2.60 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $209.41 million during the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. On average, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

The business 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 dividend of $0.78 per share. 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 dividend payout ratio is presently 46.85%.

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.