MarketAxess Holdings, Inc. (NASDAQ:MKTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Year to date, the stock of MarketAxess Holdings’  outperformed the industry it belongs to. Its underwriting results have been consistently impressive driven by growth in revenues, improving trading volumes, ongoing investments in areas including Open Trading, launch of products and its strong market position in the U.S. credit. Also, it continues to benefit from its international business, with strength in both emerging markets and Eurobond spaces. However, it severely suffers from escalating expenses. The company’s operation is also hurt by stringent regulation of U.S and U.K. Intense competition remains another headwind.”

Other equities analysts have also issued reports about the company. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $210.00 price target on shares of MarketAxess Holdings in a research report on Friday, July 14th. Finally, Raymond James Financial, Inc. upped their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $197.17.

Shares of MarketAxess Holdings (MKTX) opened at 180.08 on Monday. MarketAxess Holdings has a 12 month low of $145.10 and a 12 month high of $211.06. The stock’s 50 day moving average is $194.14 and its 200 day moving average is $192.35. The firm has a market cap of $6.76 billion, a PE ratio of 47.36 and a beta of 0.70.

MarketAxess Holdings (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The firm had revenue of $97.31 million for the quarter, compared to analyst estimates of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. MarketAxess Holdings’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, analysts anticipate that MarketAxess Holdings will post $4.11 earnings per share for the current fiscal year.

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In other news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $198.63, for a total value of $3,972,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,108,142 shares in the company, valued at approximately $220,110,245.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.51% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of MarketAxess Holdings by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock valued at $616,087,000 after acquiring an additional 62,914 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of MarketAxess Holdings by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock valued at $582,038,000 after acquiring an additional 38,702 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of MarketAxess Holdings by 5.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock valued at $553,618,000 after acquiring an additional 134,588 shares during the last quarter. State Street Corp increased its holdings in shares of MarketAxess Holdings by 0.4% in the 2nd quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock valued at $198,075,000 after acquiring an additional 4,168 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of MarketAxess Holdings by 8.4% in the 2nd quarter. Franklin Resources Inc. now owns 869,065 shares of the financial services provider’s stock valued at $174,782,000 after acquiring an additional 67,254 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

About MarketAxess Holdings

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.

Analyst Recommendations for MarketAxess Holdings (NASDAQ:MKTX)

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