MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Acquired by Pictet Asset Management SA

Posted by Defense World Staff on Aug 21st, 2023

Pictet Asset Management SA lifted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Free Report) by 92.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,946 shares of the financial services provider’s stock after acquiring an additional 17,780 shares during the quarter. Pictet Asset Management SA owned about 0.10% of MarketAxess worth $14,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of MarketAxess by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,184,298 shares of the financial services provider’s stock valued at $1,423,499,000 after acquiring an additional 25,208 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of MarketAxess by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,071,391 shares of the financial services provider’s stock valued at $577,691,000 after acquiring an additional 19,225 shares during the period. State Street Corp increased its stake in shares of MarketAxess by 0.7% during the first quarter. State Street Corp now owns 1,868,716 shares of the financial services provider’s stock valued at $635,737,000 after acquiring an additional 13,367 shares during the period. Royal Bank of Canada grew its position in MarketAxess by 4.0% in the first quarter. Royal Bank of Canada now owns 1,207,993 shares of the financial services provider’s stock worth $410,959,000 after buying an additional 46,109 shares during the last quarter. Finally, American Century Companies Inc. grew its position in MarketAxess by 17,428.1% in the fourth quarter. American Century Companies Inc. now owns 932,496 shares of the financial services provider’s stock worth $260,064,000 after buying an additional 927,176 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

MarketAxess Stock Performance

NASDAQ MKTX opened at $248.20 on Monday. MarketAxess Holdings Inc. has a twelve month low of $217.44 and a twelve month high of $399.78. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 36.99 and a beta of 0.77. The firm’s 50 day moving average price is $258.11 and its two-hundred day moving average price is $306.96.

MarketAxess (NASDAQ:MKTX – Get Free Report) last issued its earnings results on Thursday, July 20th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $179.90 million during the quarter, compared to analyst estimates of $179.47 million. MarketAxess had a net margin of 34.38% and a return on equity of 23.12%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.18 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, August 1st. MarketAxess’s dividend payout ratio (DPR) is currently 42.92%.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, insider Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $274.00, for a total transaction of $548,000.00. Following the completion of the sale, the insider now owns 71,899 shares of the company’s stock, valued at approximately $19,700,326. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $274.00, for a total value of $548,000.00. Following the completion of the sale, the insider now owns 71,899 shares of the company’s stock, valued at approximately $19,700,326. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher R. Concannon acquired 4,270 shares of MarketAxess stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $238.42 per share, with a total value of $1,018,053.40. Following the purchase, the chief executive officer now owns 47,166 shares in the company, valued at approximately $11,245,317.72. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

MKTX has been the topic of several recent research reports. Barclays lifted their price target on shares of MarketAxess from $296.00 to $308.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. 888 restated a “maintains” rating on shares of MarketAxess in a research report on Thursday, April 27th. StockNews.com initiated coverage on shares of MarketAxess in a research report on Thursday. They issued a “hold” rating on the stock. Piper Sandler decreased their price target on shares of MarketAxess from $375.00 to $260.00 in a research report on Wednesday, July 5th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $234.00 price target on shares of MarketAxess in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $316.10.

Check Out Our Latest Report on MarketAxess

MarketAxess Company Profile

(Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed-income securities.