California State Teachers Retirement System Has $10.91 Million Position in MarketAxess Holdings, Inc. (MKTX)
California State Teachers Retirement System cut its holdings in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,118 shares of the financial services provider’s stock after selling 6,246 shares during the period. California State Teachers Retirement System owned 0.16% of MarketAxess worth $10,908,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MKTX. Janus Henderson Group PLC boosted its holdings in MarketAxess by 178.5% in the 2nd quarter. Janus Henderson Group PLC now owns 807,088 shares of the financial services provider’s stock worth $162,306,000 after buying an additional 517,309 shares during the period. Eagle Asset Management Inc. bought a new position in MarketAxess in the 2nd quarter worth approximately $32,252,000. Baillie Gifford & Co. boosted its holdings in MarketAxess by 5.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock worth $553,618,000 after buying an additional 134,588 shares during the period. FMR LLC boosted its holdings in MarketAxess by 36.7% in the 2nd quarter. FMR LLC now owns 491,713 shares of the financial services provider’s stock worth $98,883,000 after buying an additional 131,911 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in MarketAxess by 10.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock valued at $227,415,000 after purchasing an additional 115,038 shares during the period. 91.65% of the stock is owned by institutional investors.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) opened at $201.75 on Monday. MarketAxess Holdings, Inc. has a fifty-two week low of $145.10 and a fifty-two week high of $211.06. The company has a market cap of $7,571.95, a price-to-earnings ratio of 51.86 and a beta of 0.69.
MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. During the same period last year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. equities analysts anticipate that MarketAxess Holdings, Inc. will post 3.91 EPS for the current year.
MarketAxess announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
MKTX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a report on Friday. Finally, Rosenblatt Securities initiated coverage on shares of MarketAxess in a report on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target for the company. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $192.83.
In other news, Director Stephen P. Casper sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total transaction of $391,680.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the sale, the chief executive officer now owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,225 shares of company stock worth $8,955,630. Corporate insiders own 4.02% of the company’s stock.
MarketAxess Company Profile
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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