Nasdaq Inc. (NDAQ) Price Target Cut to $77.00 by Analysts at Barclays PLC
Nasdaq Inc. (NASDAQ:NDAQ) had its target price reduced by equities researchers at Barclays PLC from $79.00 to $77.00 in a research note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 15.86% from the company’s previous close.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Credit Suisse Group AG set a $72.00 price objective on Nasdaq and gave the company a “buy” rating in a research report on Monday. Evercore ISI lowered Nasdaq from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $68.00 in a research report on Tuesday, July 5th. Deutsche Bank AG increased their price objective on Nasdaq from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Nasdaq from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Nasdaq currently has a consensus rating of “Hold” and an average target price of $70.26.
Shares of Nasdaq (NASDAQ:NDAQ) traded up 0.65% during midday trading on Thursday, reaching $66.89. The company’s stock had a trading volume of 595,776 shares. The stock has a market cap of $11.07 billion, a PE ratio of 23.16 and a beta of 0.81. The firm has a 50-day moving average of $69.16 and a 200-day moving average of $66.68. Nasdaq has a one year low of $53.70 and a one year high of $71.92.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The firm had revenue of $559 million for the quarter, compared to analysts’ expectations of $548 million. During the same quarter last year, the firm posted $0.83 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Nasdaq will post $3.71 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s payout ratio is presently 44.44%.
In other news, insider Pc Nelson Griggs sold 2,945 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $71.52, for a total value of $210,626.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward S. Knight sold 19,555 shares of the firm’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 value of $1,376,672.00. Following the completion of the transaction, the insider now owns 76,407 shares of the company’s stock, valued at approximately $5,379,052.80. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NDAQ. Redwood Investments LLC bought a new position in shares of Nasdaq during the second quarter worth about $14,934,000. Cullen Frost Bankers Inc. boosted its position in shares of Nasdaq by 12.6% in the second quarter. Cullen Frost Bankers Inc. now owns 350,257 shares of the company’s stock worth $22,651,000 after buying an additional 39,307 shares during the last quarter. Shell Asset Management Co. boosted its position in shares of Nasdaq by 270.9% in the second quarter. Shell Asset Management Co. now owns 23,045 shares of the company’s stock worth $1,490,000 after buying an additional 16,832 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nasdaq by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,012,957 shares of the company’s stock worth $67,112,000 after buying an additional 24,896 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Nasdaq by 4.5% in the first quarter. UBS Asset Management Americas Inc. now owns 279,276 shares of the company’s stock worth $18,538,000 after buying an additional 11,946 shares during the last quarter. Institutional investors own 74.21% of the company’s stock.
Nasdaq Company Profile
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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