Westpac Banking Corp acquired a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the fourth quarter, Holdings Channel reports. The fund acquired 27,113 shares of the financial services provider’s stock, valued at approximately $5,470,000.
Several other institutional investors also recently bought and sold shares of MKTX. D.A. Davidson & CO. lifted its stake in MarketAxess by 0.5% in the second quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock valued at $277,000 after buying an additional 7 shares during the period. Coldstream Capital Management Inc. lifted its stake in MarketAxess by 2.5% in the second quarter. Coldstream Capital Management Inc. now owns 1,610 shares of the financial services provider’s stock valued at $324,000 after buying an additional 40 shares during the period. Parametric Portfolio Associates LLC lifted its stake in MarketAxess by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 36,011 shares of the financial services provider’s stock valued at $7,242,000 after buying an additional 134 shares during the period. Cubist Systematic Strategies LLC lifted its stake in MarketAxess by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,624 shares of the financial services provider’s stock valued at $327,000 after buying an additional 135 shares during the period. Finally, Suntrust Banks Inc. lifted its stake in MarketAxess by 3.2% in the second quarter. Suntrust Banks Inc. now owns 4,438 shares of the financial services provider’s stock valued at $892,000 after buying an additional 136 shares during the period. 91.65% of the stock is currently owned by institutional investors.
MKTX has been the topic of several recent analyst reports. Zacks Investment Research raised MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price target on the stock in a research note on Monday, January 8th. Rosenblatt Securities initiated coverage on MarketAxess in a research note on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target on the stock. Goldman Sachs Group lowered MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a research note on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $202.86.
Shares of MarketAxess Holdings Inc. (MKTX) opened at $208.39 on Friday. The company has a market capitalization of $7,822.33, a P/E ratio of 53.57 and a beta of 0.70. MarketAxess Holdings Inc. has a 1-year low of $154.03 and a 1-year high of $211.06.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share. equities analysts forecast that MarketAxess Holdings Inc. will post 3.89 earnings per share for the current fiscal year.
MarketAxess announced that its board has approved a stock buyback plan on Wednesday, October 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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