MarketAxess (NASDAQ:MKTX) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

MarketAxess (NASDAQ:MKTX) had its target price upped by Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a research note issued to investors on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the financial services provider’s stock.

A number of other research firms also recently commented on MKTX. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of MarketAxess in a report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays boosted their target price on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and an average target price of $267.50.

MarketAxess Trading Down 1.7 %

MarketAxess stock opened at $267.13 on Monday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 12.27 and a beta of 1.05. The company’s 50-day moving average price is $272.25 and its two-hundred day moving average price is $234.92. MarketAxess has a 52 week low of $192.42 and a 52 week high of $297.97.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The company had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. Research analysts expect that MarketAxess will post 7.33 earnings per share for the current fiscal year.

MarketAxess declared that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s payout ratio is presently 40.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in MarketAxess by 47.2% during the third quarter. BNP Paribas Financial Markets now owns 68,364 shares of the financial services provider’s stock valued at $17,515,000 after purchasing an additional 21,936 shares in the last quarter. D.A. Davidson & CO. purchased a new position in MarketAxess during the third quarter valued at approximately $2,588,000. FMR LLC grew its position in MarketAxess by 17.5% during the third quarter. FMR LLC now owns 1,959,043 shares of the financial services provider’s stock valued at $501,907,000 after purchasing an additional 291,134 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its position in MarketAxess by 6.0% during the third quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 76 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in MarketAxess by 12.5% during the third quarter. Daiwa Securities Group Inc. now owns 4,662 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 519 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other 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.