Fintel reports that on June 28, 2023, Goldman Sachs maintained coverage of MarketAxess Holdings (NASDAQ:MKTX) with a Neutral recommendation.

Analyst Price Forecast Suggests 37.24% Upside

As of June 1, 2023, the average one-year price target for MarketAxess Holdings is 353.94. The forecasts range from a low of 290.88 to a high of $435.75. The average price target represents an increase of 37.24% from its latest reported closing price of 257.89.

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The projected annual revenue for MarketAxess Holdings is 816MM, an increase of 10.96%. The projected annual non-GAAP EPS is 7.70.

MarketAxess Holdings Declares $0.72 Dividend

On April 26, 2023 the company declared a regular quarterly dividend of $0.72 per share ($2.88 annualized). Shareholders of record as of May 10, 2023 received the payment on May 24, 2023. Previously, the company paid $0.72 per share.

At the current share price of $257.89 / share, the stock’s dividend yield is 1.12%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.72%, the lowest has been 0.41%, and the highest has been 1.24%. The standard deviation of yields is 0.21 (n=236).

The current dividend yield is 1.89 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.42. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1242 funds or institutions reporting positions in MarketAxess Holdings. This is an increase of 91 owner(s) or 7.91% in the last quarter. Average portfolio weight of all funds dedicated to MKTX is 0.30%, an increase of 24.10%. Total shares owned by institutions increased in the last three months by 1.50% to 43,372K shares. The put/call ratio of MKTX is 0.71, indicating a bullish outlook.

What are Other Shareholders Doing?

Guardcap Asset Management holds 1,900K shares representing 5.04% ownership of the company. In it’s prior filing, the firm reported owning 1,903K shares, representing a decrease of 0.14%. The firm increased its portfolio allocation in MKTX by 26.03% over the last quarter.

Royal Bank Of Canada holds 1,694K shares representing 4.50% ownership of the company. In it’s prior filing, the firm reported owning 1,189K shares, representing an increase of 29.80%. The firm increased its portfolio allocation in MKTX by 97.02% over the last quarter.

T. Rowe Price Investment Management holds 1,537K shares representing 4.08% ownership of the company. In it’s prior filing, the firm reported owning 2,071K shares, representing a decrease of 34.73%. The firm decreased its portfolio allocation in MKTX by 2.70% over the last quarter.

Baillie Gifford holds 1,430K shares representing 3.80% ownership of the company. In it’s prior filing, the firm reported owning 1,427K shares, representing an increase of 0.21%. The firm decreased its portfolio allocation in MKTX by 54.57% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,164K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 1,087K shares, representing an increase of 6.58%. The firm increased its portfolio allocation in MKTX by 38.67% over the last quarter.

MarketAxess Holdings Background Information
(This description is provided by the company.)

MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,800 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K

This article originally appeared on Fintel

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