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.
Company profile
Ticker
MKTX
Exchange
Website
CEO
Richard McVey
Employees
Location
Fiscal year end
Industry (SIC)
Former names
MARKETAXESS HOLDING INC
SEC CIK
Corporate docs
Subsidiaries
MarketAxess Corporation • MarketAxess SEF Corporation • MarketAxess Technologies Inc. • MarketAxess Colombia Corp. • MuniBrokers, LLC • MarketAxess Limited • MarketAxess Europe Limited • MarketAxess Post-Trade Limited • MarketAxess Capital Limited • LiquidityEdge UK Limited ...
IRS number
522230784
MKTX stock data
Analyst ratings and price targets
Current price
Average target
$328.14
Low target
$240.00
High target
$415.00
Morgan Stanley
Maintains
$341.00
Keefe, Bruyette & Woods
Maintains
$345.00
Citigroup
Maintains
$415.00
Goldman Sachs
Maintains
$336.00
Credit Suisse
Maintains
$332.00
Rosenblatt
Maintains
$288.00
Deutsche Bank
Maintains
$240.00
Latest filings (excl ownership)
8-K
MarketAxess Reports Fourth Quarter and Full-Year 2022 Results
25 Jan 23
8-K
Departure of Directors or Certain Officers
9 Jan 23
10-Q
2022 Q3
Quarterly report
26 Oct 22
8-K
MarketAxess Reports Third Quarter 2022 Results
19 Oct 22
10-Q
2022 Q2
Quarterly report
27 Jul 22
8-K
MarketAxess Reports Second Quarter 2022 Results
20 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
10 Jun 22
S-8
Registration of securities for employees
8 Jun 22
10-Q
2022 Q1
Quarterly report
27 Apr 22
DEFA14A
Additional proxy soliciting materials
27 Apr 22
Transcripts
MKTX
Earnings call transcript
2022 Q4
25 Jan 23
MKTX
Earnings call transcript
2022 Q3
19 Oct 22
MKTX
Earnings call transcript
2022 Q2
20 Jul 22
MKTX
Earnings call transcript
2022 Q1
20 Apr 22
MKTX
Earnings call transcript
2021 Q4
26 Jan 22
MKTX
Earnings call transcript
2021 Q3
20 Oct 21
MKTX
Earnings call transcript
2021 Q2
21 Jul 21
MKTX
Earnings call transcript
2021 Q1
22 Apr 21
MKTX
Earnings call transcript
2020 Q4
27 Jan 21
MKTX
Earnings call transcript
2020 Q3
27 Oct 20
Latest ownership filings
SC 13G
BlackRock Inc.
25 Jan 23
4
CHRISTOPHER R CONCANNON
20 Jan 23
4
Scott Pintoff
20 Jan 23
4
Kevin M McPherson
20 Jan 23
4
Richard M McVey
20 Jan 23
4
Christophe Pierre Daniel Roupie
20 Jan 23
4
Richard M McVey
17 Jan 23
5
Richard Leon Prager
3 Jan 23
4
Richard M McVey
16 Dec 22
4
Richard M McVey
12 Dec 22
Financial summary
| Quarter (USD) | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|
| Revenue | |||||
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| Operating income | |||||
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| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 468.83 mm | 468.83 mm | 468.83 mm | 468.83 mm | 468.83 mm | 468.83 mm |
| Cash burn (monthly) | (no burn) | 7.91 mm | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | n/a | 32.25 mm | n/a | n/a | n/a | n/a |
| Cash remaining | n/a | 436.58 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | n/a | 55.2 | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2022
91.8% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 458 |
| Opened positions | 49 |
| Closed positions | 76 |
| Increased positions | 164 |
| Reduced positions | 183 |
| 13F shares | Current |
|---|---|
| Total value | 7.68 bn |
| Total shares | 34.56 mm |
| Total puts | 197.83 k |
| Total calls | 89.90 k |
| Total put/call ratio | 2.2 |
| Largest owners | Shares | Value |
|---|---|---|
| Vanguard | 4.23 mm | $941.31 mm |
| BLK Blackrock | 3.21 mm | $714.23 mm |
| T. Rowe Price Investment Management | 2.05 mm | $456.59 mm |
| GUARDCAP ASSET MANAGEMENT | 1.95 mm | $434.92 mm |
| Baillie Gifford & Co | 1.42 mm | $315.89 mm |
| Ownership Capital B.V. | 1.31 mm | $290.52 mm |
| RY Royal Bank Of Canada | 1.23 mm | $273.94 mm |
| Primecap Management | 963.88 k | $214.45 mm |
| Geode Capital Management | 892.41 k | $198.36 mm |
| MCQEF Macquarie | 777.28 k | $172.94 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 18 Jan 23 | McVey Richard M | Common Stock, par value $0.003 per share | Grant | Acquire A | No | No | 0 | 4,589 | 0.00 | 661,934 |
| 18 Jan 23 | Kevin M McPherson | Common Stock, par value $0.003 per share | Grant | Acquire A | No | No | 0 | 798 | 0.00 | 73,062 |
| 18 Jan 23 | Roupie Christophe Pierre Daniel | Common Stock, par value $0.003 per share | Grant | Acquire A | No | No | 0 | 429 | 0.00 | 5,747 |
| 18 Jan 23 | Christopher R Concannon | Common Stock, par value $0.003 per share | Grant | Acquire A | No | No | 0 | 2,993 | 0.00 | 40,748 |
| 18 Jan 23 | Scott Pintoff | Common Stock, par value $0.003 per share | Grant | Acquire A | No | No | 0 | 598 | 0.00 | 6,917 |
News
Analyst Ratings for MarketAxess Holdings
27 Jan 23
Morgan Stanley Maintains Equal-Weight on MarketAxess Holdings, Raises Price Target to $341
27 Jan 23
Keefe, Bruyette & Woods Maintains Market Perform on MarketAxess Holdings, Raises Price Target to $345
26 Jan 23
Citigroup Maintains Buy on MarketAxess Holdings, Raises Price Target to $415
26 Jan 23
5 Most Expensive Financial Stocks You Should Worry About
26 Jan 23
Press releases
MarketAxess Reports Fourth Quarter and Full-Year 2022 Results
25 Jan 23
MarketAxess to Host Conference Call Announcing Fourth Quarter and Full- Year 2022 Financial Results on Wednesday, January 25, 2023
13 Jan 23
MarketAxess Promotes Chris Concannon to Chief Executive Officer; Richard M. McVey to Become Executive Chairman
9 Jan 23
MarketAxess Announces Monthly Volume Statistics for December 2022
5 Jan 23
MarketAxess Announces Monthly Volume Statistics for November 2022
5 Dec 22