Custom Index Systems LLC Cuts Stock Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Custom Index Systems LLC cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 9.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,018 shares of the financial services provider’s stock after selling 212 shares during the period. Custom Index Systems LLC’s holdings in MarketAxess were worth $517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MKTX. Goodman Advisory Group LLC acquired a new stake in shares of MarketAxess in the second quarter worth approximately $27,000. Larson Financial Group LLC lifted its holdings in MarketAxess by 2,428.6% in the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 170 shares in the last quarter. Blue Trust Inc. boosted its stake in MarketAxess by 405.1% during the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after buying an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of MarketAxess in the third quarter valued at about $54,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MKTX. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Bank of America cut their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Keefe, Bruyette & Woods upped their target price on MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and an average price target of $253.30.

Insider Buying and Selling

In other MarketAxess 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 sale, the insider now owns 7,409 shares of the company’s stock, valued at $1,716,146.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.66% of the stock is currently owned by corporate insiders.

MarketAxess Trading Down 1.3 %

Shares of MarketAxess stock traded down $3.84 during trading hours on Friday, hitting $286.45. The company’s stock had a trading volume of 186,302 shares, compared to its average volume of 408,543. The firm has a fifty day moving average of $261.03 and a 200-day moving average of $228.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 42.06, a P/E/G ratio of 6.42 and a beta of 1.08. MarketAxess Holdings Inc. has a twelve month low of $192.42 and a twelve month high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The company had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $198.07 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. MarketAxess’s revenue for the quarter was up 9.9% compared to the same quarter last year. Research analysts forecast that MarketAxess Holdings Inc. will post 7.26 EPS for the current year.

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

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.