William Blair Comments on MarketAxess Holdings Inc.’s FY2024 Earnings (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Analysts at William Blair dropped their FY2024 earnings per share estimates for MarketAxess in a report issued on Tuesday, May 7th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $7.05 per share for the year, down from their previous estimate of $7.20. William Blair has a “Outperform” rating on the stock. The consensus estimate for MarketAxess’ current full-year earnings is $7.28 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.83 EPS, Q2 2025 earnings at $1.91 EPS, Q4 2025 earnings at $2.13 EPS and FY2025 earnings at $8.00 EPS.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The firm had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $212.99 million. During the same period in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 3.5% on a year-over-year basis.

A number of other equities research analysts also recently commented on MKTX. Keefe, Bruyette & Woods lowered their price objective on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a research report on Wednesday. Barclays dropped their price objective on shares of MarketAxess from $236.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group decreased their target price on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley upped their price target on shares of MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Rosenblatt Securities cut their price target on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $249.73.

MarketAxess Stock Up 1.3 %

Shares of NASDAQ:MKTX opened at $204.82 on Thursday. The company has a market capitalization of $7.70 billion, a P/E ratio of 29.90, a P/E/G ratio of 4.26 and a beta of 0.98. The stock’s fifty day simple moving average is $212.86 and its 200-day simple moving average is $234.52. MarketAxess has a 52-week low of $198.01 and a 52-week high of $303.85.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allworth Financial LP lifted its stake 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 period. Gladius Capital Management LP lifted its position in MarketAxess by 39.6% in the third quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 38 shares during the period. Venturi Wealth Management LLC boosted its stake in MarketAxess by 1,030.8% during the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 134 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of MarketAxess by 155.8% in the 4th quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 67 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of MarketAxess by 47.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after buying an additional 43 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the transaction, the executive now directly owns 70,092 shares in the company, valued at approximately $15,508,555.92. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.66% of the stock is currently owned by insiders.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be issued a $0.74 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a yield of 1.45%. MarketAxess’s dividend payout ratio is currently 43.21%.

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.