MarketAxess (MKTX)
Runs an electronic marketplace and workflow network for institutional fixed-income trading.
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Operates an electronic fixed-income marketplace for institutional investors and broker-dealers. Trading, automation, data and post-trade services span corporate, municipal and U.S. government bonds.
Connects institutional investors and broker-dealers to electronic fixed-income trading across corporate, municipal, U.S. government and other bond markets. It supports U.S. high-grade and high-yield bonds, emerging-market debt and eurobonds. The Open Trading marketplace lets participants interact anonymously in an all-to-all corporate-bond environment, alongside automated and algorithmic execution.
Trax provides data, trade matching and regulatory reporting, while technology and post-trade services extend the workflow beyond execution. It also offers trading protocols for different transaction needs. The platform serves a global network, and its operating model depends on participation by institutional investors, broker-dealers and other liquidity providers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 11, 2026 | Keefe, Bruyette & Woods | Downgrade | ||
| Aug 10, 2026 | Barclays | Reiterate | Rating: —Target: $132 | Target: $167 |
| Jul 31, 2026 | UBS | Downgrade | Target: $200 | Target: $167 |
| Jul 30, 2026 | William Blair | Downgrade | ||
| Jul 15, 2026 | Piper Sandler | Reiterate | Rating: —Target: $175 | Target: $128 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $245.8M · Total debt $178.9M · Total assets $2.42B · Shareholders' equity $1.24B
- Revenue
- $218.4M
- Operating income
- $89.9M
- Net income
- $68.1M
HistoryDividendAnnual yield
| Institutions | 110.93% | 39.43M shares | |
|---|---|---|---|
| 416 holders · as of Jun 30, 2026 | |||
| Insiders | 2.50% | 887.6K shares | |
| 23 holders · as of Sep 11, 2026 | |||
| Adds to | 113.43% | ||
35.54M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 113.43%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.25% | 4.00M | as of Jun 30, 2026 |
Primecap Management Co/CA/Institution | 9.86% | 3.50M | as of Jun 30, 2026 |
North Reef Capital Management LPInstitution | 9.55% | 3.40M | as of Jun 30, 2026 |
Baillie Gifford & Co (Scottish partnership)Institution | 8.50% | 3.02M | filed Feb 14, 2020 |
Vanguard Portfolio Management LLCInstitution | 5.91% | 2.10M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 10, 2026 | William Frank Jr. Cruger | director | −6,164 | $163.20 |
| Sep 10, 2026 | Scott Pintoff | officer: General Counsel and Secretary | −100 | $163.32 |
| Aug 10, 2026 | Scott Pintoff | officer: General Counsel and Secretary | −100 | $162.60 |
| Jul 10, 2026 | Scott Pintoff | officer: General Counsel and Secretary | −100 | $115.12 |
| Jun 10, 2026 | Scott Pintoff | officer: General Counsel and Secretary | −100 | $116.03 |
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- BGC Group
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MarketAxess | $163.66 | +0.13% | $5.75B | 19.3 | 19.9 | 6.6 | −2.8% |
| Tradeweb | $101.91 | −2.43% | $22.24B | 25.0 | 23.9 | 10.1 | +9.0% |
| Intercontinental Exchange | $152.89 | −1.60% | $87.22B | 21.9 | 18.6 | 6.5 | −18.3% |
| CME Group | $269.77 | −2.09% | $99.07B | 23.4 | 21.7 | 14.6 | +0.8% |
| BGC Group | $12.32 | −1.04% | $5.90B | 29.9 | 8.4 | 1.8 | +7.9% |
| Median | 24.2 | 20.2 | 8.3 | +4.3% |