Federated Hermes Inc. Reduces Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Federated Hermes Inc. decreased its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 90.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,277 shares of the financial services provider’s stock after selling 62,541 shares during the period. Federated Hermes Inc.’s holdings in MarketAxess were worth $1,838,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of MarketAxess by 347.6% in the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 73 shares during the last quarter. Gladius Capital Management LP lifted its holdings in shares of MarketAxess by 39.6% in the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 38 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of MarketAxess by 47.3% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of MarketAxess in the 4th quarter worth approximately $50,000. Finally, Covestor Ltd lifted its holdings in shares of MarketAxess by 32.0% in the 3rd quarter. Covestor Ltd now owns 462 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insiders Place Their Bets

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MKTX has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Piper Sandler reduced their target price on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Morgan Stanley increased their target price on shares of MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities reduced their target price on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a report on Thursday, February 1st. Finally, Bank of America began coverage on shares of MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $252.80.

MarketAxess Stock Performance

Shares of MarketAxess stock opened at $201.79 on Monday. MarketAxess Holdings Inc. has a 1 year low of $199.34 and a 1 year high of $322.25. The company has a market capitalization of $7.59 billion, a P/E ratio of 29.46, a PEG ratio of 4.22 and a beta of 0.98. The company’s fifty day moving average is $214.73 and its two-hundred day moving average is $236.64.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.11. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company had revenue of $197.20 million for the quarter, compared to the consensus estimate of $196.70 million. During the same period last year, the firm posted $1.58 EPS. MarketAxess’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 7.28 earnings per share for the current year.

About MarketAxess

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.