Burgundy Asset Management Ltd. Sells 160,914 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Burgundy Asset Management Ltd. lowered its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 39.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 244,271 shares of the financial services provider’s stock after selling 160,914 shares during the period. Burgundy Asset Management Ltd. owned about 0.65% of MarketAxess worth $55,215,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MarketAxess by 17.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 294,650 shares of the financial services provider’s stock valued at $66,603,000 after purchasing an additional 43,455 shares during the last quarter. Woodline Partners LP bought a new stake in MarketAxess in the 4th quarter worth $512,000. Sone Capital Management LLC bought a new stake in MarketAxess in the 4th quarter worth $9,646,000. Squarepoint Ops LLC grew its holdings in MarketAxess by 1,890.5% in the 4th quarter. Squarepoint Ops LLC now owns 20,243 shares of the financial services provider’s stock worth $4,576,000 after acquiring an additional 19,226 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in MarketAxess by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 233,100 shares of the financial services provider’s stock worth $52,690,000 after acquiring an additional 44,700 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MKTX. William Blair began coverage on shares of MarketAxess in a report on Friday, April 4th. They issued an “outperform” rating on the stock. Bank of America raised their price target on shares of MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Morgan Stanley raised their price target on shares of MarketAxess from $263.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Piper Sandler cut their price target on shares of MarketAxess from $213.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $241.78.

MarketAxess Trading Down 1.5%

NASDAQ:MKTX opened at $216.41 on Friday. The company has a 50-day moving average price of $217.94 and a 200-day moving average price of $223.95. MarketAxess Holdings Inc. has a 12 month low of $186.84 and a 12 month high of $296.68. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 3.89 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.82 by $0.05. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. The firm had revenue of $208.58 million during the quarter, compared to analysts’ expectations of $211.81 million. During the same period last year, the company posted $1.92 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.04 dividend on an annualized basis and a yield of 1.40%. MarketAxess’s dividend payout ratio (DPR) is currently 52.87%.

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.