Nasdaq’s (NDAQ) “Buy” Rating Reaffirmed at Barclays PLC
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Nasdaq from a hold rating to a sell rating in a research note on Wednesday, October 5th. Evercore ISI cut shares of Nasdaq from a buy rating to a hold rating and cut their target price for the company from $69.00 to $68.00 in a research note on Tuesday, July 5th. Deutsche Bank AG raised their target price on shares of Nasdaq from $73.00 to $75.00 and gave the company a buy rating in a research note on Thursday, July 28th. Credit Suisse Group AG set a $72.00 target price on shares of Nasdaq and gave the company a buy rating in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $70.00 to $74.00 and gave the company a market perform rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $69.60.
Nasdaq (NASDAQ:NDAQ) opened at 65.94 on Tuesday. Nasdaq has a 52-week low of $53.22 and a 52-week high of $71.92. The firm’s 50 day moving average is $69.28 and its 200 day moving average is $66.68. The company has a market cap of $10.91 billion, a PE ratio of 22.83 and a beta of 0.81.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $559 million for the quarter, compared to the consensus estimate of $548 million. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Analysts forecast that Nasdaq will post $3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s dividend payout ratio is presently 44.44%.
In other Nasdaq news, insider Edward S. Knight sold 19,555 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $70.40, for a total transaction of $1,376,672.00. Following the sale, the insider now owns 76,407 shares of the company’s stock, valued at approximately $5,379,052.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Greifeld sold 18,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $70.66, for a total transaction of $1,278,946.00. Following the sale, the chief executive officer now directly owns 1,008,635 shares in the company, valued at approximately $71,270,149.10. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NDAQ. Redwood Investments LLC bought a new stake in Nasdaq during the second quarter valued at $14,934,000. Cullen Frost Bankers Inc. increased its stake in Nasdaq by 12.6% in the second quarter. Cullen Frost Bankers Inc. now owns 350,257 shares of the company’s stock valued at $22,651,000 after buying an additional 39,307 shares during the period. Shell Asset Management Co. increased its stake in Nasdaq by 270.9% in the second quarter. Shell Asset Management Co. now owns 23,045 shares of the company’s stock valued at $1,490,000 after buying an additional 16,832 shares during the period. Geode Capital Management LLC increased its stake in Nasdaq by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,012,957 shares of the company’s stock valued at $67,112,000 after buying an additional 24,896 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Nasdaq by 4.5% in the first quarter. UBS Asset Management Americas Inc. now owns 279,276 shares of the company’s stock valued at $18,538,000 after buying an additional 11,946 shares during the period. 74.21% of the stock is currently owned by institutional investors.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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