Victory Capital Management Inc. Purchases 11,801 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Victory Capital Management Inc. increased its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 210.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,400 shares of the financial services provider’s stock after acquiring an additional 11,801 shares during the quarter. Victory Capital Management Inc.’s holdings in MarketAxess were worth $3,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of MarketAxess by 7.6% during the 4th quarter. HighTower Advisors LLC now owns 1,205 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 85 shares during the period. American Century Companies Inc. grew its holdings in MarketAxess by 6.7% during the 4th quarter. American Century Companies Inc. now owns 20,221 shares of the financial services provider’s stock valued at $4,571,000 after buying an additional 1,261 shares in the last quarter. LPL Financial LLC increased its position in shares of MarketAxess by 192.3% during the fourth quarter. LPL Financial LLC now owns 5,694 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 3,746 shares during the period. Korea Investment CORP lifted its holdings in shares of MarketAxess by 41.8% in the fourth quarter. Korea Investment CORP now owns 15,573 shares of the financial services provider’s stock worth $3,520,000 after buying an additional 4,593 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of MarketAxess by 8.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 59,653 shares of the financial services provider’s stock worth $13,510,000 after buying an additional 4,600 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Trading Down 1.1%

MKTX opened at $211.45 on Monday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 36.77, a PEG ratio of 2.79 and a beta of 0.85. The stock has a 50-day moving average price of $218.85 and a 200-day moving average price of $214.72. MarketAxess Holdings Inc. has a 12-month low of $186.84 and a 12-month high of $296.68.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.05. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The company had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. During the same quarter in the previous year, the company posted $1.92 EPS. MarketAxess’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MKTX. Citigroup boosted their price objective on shares of MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Piper Sandler restated a “neutral” rating and set a $204.00 price target (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Morgan Stanley lowered their price objective on MarketAxess from $283.00 to $274.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Bank of America boosted their target price on MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 2nd. Finally, Barclays decreased their target price on MarketAxess from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MarketAxess has an average rating of “Hold” and a consensus price target of $240.67.

MarketAxess Company 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.