First Republic Investment Management Inc. increased its stake in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,373 shares of the financial services provider’s stock after purchasing an additional 323 shares during the quarter. First Republic Investment Management Inc.’s holdings in MarketAxess were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AMP Capital Investors Ltd lifted its holdings in shares of MarketAxess by 10.3% during the third quarter. AMP Capital Investors Ltd now owns 22,953 shares of the financial services provider’s stock worth $4,235,000 after purchasing an additional 2,143 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of MarketAxess by 503.9% during the third quarter. Allianz Asset Management GmbH now owns 192,657 shares of the financial services provider’s stock worth $35,547,000 after purchasing an additional 160,755 shares during the period. Stifel Financial Corp lifted its holdings in shares of MarketAxess by 11.3% during the third quarter. Stifel Financial Corp now owns 7,460 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 759 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of MarketAxess by 4.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 127,576 shares of the financial services provider’s stock worth $23,540,000 after purchasing an additional 5,187 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of MarketAxess by 10.3% during the third quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock worth $227,415,000 after purchasing an additional 115,038 shares during the period. 92.84% of the stock is owned by hedge funds and other institutional investors.

In other MarketAxess news, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total value of $705,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard M. Mcvey sold 35,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total value of $6,240,150.00. Following the completion of the transaction, the chief executive officer now owns 1,113,076 shares of the company’s stock, valued at approximately $198,450,320.04. The disclosure for this sale can be found here. Insiders sold 50,225 shares of company stock valued at $8,955,630 in the last quarter. 4.02% of the stock is currently owned by company insiders.

MKTX has been the subject of several recent research reports. Zacks Investment Research raised MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Rosenblatt Securities initiated coverage on MarketAxess in a report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price target for the company. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. MarketAxess has a consensus rating of “Buy” and a consensus target price of $192.00.

MarketAxess Holdings, Inc. (NASDAQ MKTX) opened at $199.36 on Tuesday. The stock has a market capitalization of $7,480.00, a price-to-earnings ratio of 49.83 and a beta of 0.69. MarketAxess Holdings, Inc. has a 52-week low of $145.10 and a 52-week high of $211.06.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.90. The firm had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. MarketAxess’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. analysts expect that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

MarketAxess declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, November 7th. MarketAxess’s payout ratio is 33.93%.

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MarketAxess 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.

Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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