Keefe, Bruyette & Woods Reiterates $76.00 Price Target for Nasdaq, Inc. (NDAQ)
Keefe, Bruyette & Woods set a $76.00 price objective on Nasdaq, Inc. (NASDAQ:NDAQ) in a research note released on Thursday morning. The brokerage currently has a hold rating on the financial services provider’s stock.
Other equities analysts also recently issued reports about the stock. Deutsche Bank AG dropped their target price on shares of Nasdaq from $80.00 to $79.00 and set a buy rating for the company in a report on Friday, April 28th. UBS AG restated a buy rating and set a $81.00 target price (down from $85.00) on shares of Nasdaq in a report on Friday, April 28th. BidaskClub raised shares of Nasdaq from a hold rating to a buy rating in a research note on Friday, August 4th. Royal Bank Of Canada set a $70.00 price target on shares of Nasdaq and gave the stock a hold rating in a research note on Friday, April 21st. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $71.00 price target (up from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $75.30.
Nasdaq (NASDAQ NDAQ) opened at 74.91 on Thursday. The firm has a 50 day moving average of $73.62 and a 200-day moving average of $70.58. Nasdaq has a 12-month low of $63.30 and a 12-month high of $77.75. The stock has a market cap of $12.49 billion, a PE ratio of 56.92 and a beta of 0.76.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The firm had revenue of $602 million during the quarter, compared to the consensus estimate of $596.55 million. During the same period last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts expect that Nasdaq will post $4.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.03%. Nasdaq’s dividend payout ratio is currently 118.75%.
In related news, insider Bjorn Sibbern sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $76.17, for a total value of $228,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward S. Knight sold 14,629 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.74, for a total transaction of $1,122,629.46. The disclosure for this sale can be found here. Insiders sold 32,629 shares of company stock worth $2,466,989 over the last three months. Corporate insiders own 1.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NDAQ. YorkBridge Wealth Partners LLC boosted its stake in Nasdaq by 13.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,454 shares of the financial services provider’s stock valued at $104,000 after buying an additional 178 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after buying an additional 77 shares in the last quarter. Advisory Services Network LLC bought a new stake in Nasdaq during the first quarter valued at about $189,000. Ameritas Investment Partners Inc. bought a new stake in Nasdaq during the first quarter valued at about $190,000. Finally, MML Investors Services LLC bought a new stake in Nasdaq during the second quarter valued at about $201,000. 75.44% of the stock is currently owned by institutional investors and hedge funds.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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