Cwm LLC Purchases 215 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Cwm LLC raised its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 39.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 759 shares of the financial services provider’s stock after acquiring an additional 215 shares during the period. Cwm LLC’s holdings in MarketAxess were worth $194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKTX. Norris Perne & French LLP MI boosted its position in shares of MarketAxess by 5.1% in the first quarter. Norris Perne & French LLP MI now owns 34,876 shares of the financial services provider’s stock valued at $7,647,000 after acquiring an additional 1,704 shares during the period. Wasatch Advisors LP increased its position in MarketAxess by 40.0% during the first quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock worth $157,134,000 after acquiring an additional 204,660 shares during the period. Van ECK Associates Corp raised its stake in MarketAxess by 21.2% during the 1st quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock valued at $363,508,000 after purchasing an additional 290,347 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in MarketAxess by 12.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,142 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 125 shares during the period. Finally, Tobam grew its position in MarketAxess by 16.0% in the 1st quarter. Tobam now owns 69,871 shares of the financial services provider’s stock worth $15,319,000 after purchasing an additional 9,657 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the transaction, the insider now directly owns 7,409 shares of the company’s stock, valued at $1,716,146.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.66% of the company’s stock.

MarketAxess Stock Performance

MarketAxess stock opened at $288.89 on Thursday. The firm has a market capitalization of $10.95 billion, a P/E ratio of 42.42, a P/E/G ratio of 7.24 and a beta of 1.08. The stock has a fifty day moving average price of $258.85 and a two-hundred day moving average price of $227.27. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $198.07 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. As a group, analysts anticipate that MarketAxess Holdings Inc. will post 7.16 EPS for the current fiscal year.

MarketAxess declared that its Board of Directors has initiated a stock buyback program 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 reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on MKTX. Bank of America cut their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Piper Sandler lifted their price objective on MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays upped their target price on MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, MarketAxess has an average rating of “Hold” and a consensus target price of $253.30.

MarketAxess 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.