Farther Finance Advisors LLC Sells 763 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Farther Finance Advisors LLC decreased its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 77.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 221 shares of the financial services provider’s stock after selling 763 shares during the quarter. Farther Finance Advisors LLC’s holdings in MarketAxess were worth $57,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of MarketAxess in the first quarter worth $7,866,000. SG Americas Securities LLC lifted its holdings in MarketAxess by 174.2% in the first quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock valued at $1,478,000 after buying an additional 4,284 shares during the period. Entropy Technologies LP acquired a new position in MarketAxess in the first quarter valued at $882,000. ProShare Advisors LLC lifted its holdings in MarketAxess by 48.4% in the first quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider’s stock valued at $2,547,000 after buying an additional 3,787 shares during the period. Finally, Natixis acquired a new position in MarketAxess in the first quarter valued at $842,000. Institutional investors own 99.01% of the company’s stock.

MarketAxess Price Performance

NASDAQ:MKTX opened at $267.13 on Thursday. The firm has a 50-day moving average of $272.25 and a 200-day moving average of $234.92. The company has a market cap of $10.07 billion, a PE ratio of 36.20, a PEG ratio of 12.27 and a beta of 1.05. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, equities research analysts expect that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current fiscal year.

MarketAxess announced that its board has initiated a stock buyback program on Tuesday, August 6th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s payout ratio is 40.11%.

Analyst Ratings Changes

MKTX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Citigroup boosted their target price on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 4th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, MarketAxess currently has an average rating of “Hold” and an average target price of $267.50.

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.