Nasdaq, Inc. (NDAQ) Stock Rating Lowered by Bank of America Corporation
Nasdaq, Inc. (NASDAQ:NDAQ) was downgraded by Bank of America Corporation from a “neutral” rating to an “underperform” rating in a report released on Monday. They presently have a $75.00 price objective on the financial services provider’s stock, down from their previous price objective of $77.00. Bank of America Corporation’s price objective points to a potential upside of 0.59% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Nasdaq from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. began coverage on shares of Nasdaq in a report on Wednesday, July 12th. They set a “neutral” rating and a $72.00 price target for the company. Zacks Investment Research upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Royal Bank Of Canada restated a “hold” rating and set a $76.00 price objective on shares of Nasdaq in a research report on Monday, September 11th. Finally, UBS AG restated a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Nasdaq in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.10.
Nasdaq (NDAQ) opened at 74.56 on Monday. The company has a market capitalization of $12.44 billion, a P/E ratio of 56.66 and a beta of 0.77. The firm has a 50-day moving average of $75.71 and a 200-day moving average of $71.89. Nasdaq has a 52 week low of $63.30 and a 52 week high of $78.31.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that Nasdaq will post $4.17 EPS for the current fiscal year.
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In other Nasdaq news, insider Edward S. Knight sold 14,629 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.74, for a total value of $1,122,629.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total transaction of $89,294.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,844 shares of company stock worth $2,788,100. 1.60% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NDAQ. Advisor Partners LLC purchased a new position in shares of Nasdaq during the 2nd quarter worth about $214,000. Nikko Asset Management Americas Inc. lifted its holdings in shares of Nasdaq by 1,325.8% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock worth $9,072,000 after acquiring an additional 118,000 shares during the period. Commerce Bank lifted its holdings in shares of Nasdaq by 1.9% during the 2nd quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock worth $20,292,000 after acquiring an additional 5,401 shares during the period. Summit Securities Group LLC purchased a new position in shares of Nasdaq during the 2nd quarter worth about $645,000. Finally, GAM Holding AG lifted its holdings in shares of Nasdaq by 0.7% during the 2nd quarter. GAM Holding AG now owns 28,766 shares of the financial services provider’s stock worth $2,056,000 after acquiring an additional 200 shares during the period. Institutional investors own 74.63% of the company’s stock.
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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