MARKETAXESS HOLDINGS INC.
In the published model solve dated 2026-Q2, anchored at $124.73, MARKETAXESS HOLDINGS INC. (MKTX) is priced for -2.3% earnings growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• MarketAxess runs an electronic platform for trading corporate and emerging-market bonds, a capital-light fee business with a 52% EBITDA margin and a return on equity around 26%, so it earns far more on each dollar of equity than a typical financial. • The stock has de-rated to roughly seventeen times earnings, a level that prices the fee stream to shrink slightly rather than grow, even though first-quarter credit trading volume rose 17% and revenue grew 12%. [Source: MarketAxess Q1 2026 result
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433 institutional managers reported holding MKTX in 13F filings for the quarter ended 2026-03-31. 51 opened new positions that quarter. Held by BlackRock, Vanguard Group, PRIMECAP Management, among others. On the short side, 2.1M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (2.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MKTX has cut its share count 5.9% over the past five years, spending $632.26M on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 12 years straight; the current rate is $3.04 a share annually. Cash returned over the past three years: $310.70M in dividends and $495.49M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MKTX over the trailing three years: 2023: 6 buys totaling $1.02M. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MKTX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | +3.7% | -21.2% |
| 2023-10-26 | -9.7% | +39.3% |
| 2024-02-23 | -20.2% | -6.2% |
| 2024-05-08 | -1.8% | +2.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MKTX's latest 8-K filings: 2026-07-30 (items 2.02, 8.01, 9.01); 2026-07-30 (items 1.01, 5.02, 7.01, 9.01); 2026-06-10 (items 5.07); 2026-05-07 (items 2.02, 8.01, 9.01); 2026-02-17 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.