Nasdaq (NASDAQ:NDAQ) to Buyback $500.00 million in Shares

Nasdaq (NASDAQ:NDAQ) declared that its board has approved a share repurchase program, which permits the company to buyback $500.00 million in shares on Monday, January 29th, EventVestor reports. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Shares of Nasdaq (NDAQ) opened at $79.76 on Thursday. Nasdaq has a 12-month low of $65.98 and a 12-month high of $83.29. The stock has a market cap of $13,260.00, a PE ratio of 18.46, a P/E/G ratio of 1.66 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.05.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $628.36 million. During the same period last year, the business earned $0.95 earnings per share. Nasdaq’s revenue was up 6.0% compared to the same quarter last year. analysts predict that Nasdaq will post 4.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, March 15th. Nasdaq’s payout ratio is 35.19%.

NDAQ has been the subject of several research reports. Citigroup boosted their price objective on shares of Nasdaq from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Barclays reduced their price objective on shares of Nasdaq from $85.00 to $84.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. ValuEngine upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. UBS Group restated a “buy” rating and set a $89.00 price target (up previously from $83.00) on shares of Nasdaq in a research note on Monday, December 11th. Finally, BidaskClub downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $82.05.

In other Nasdaq news, EVP Pc Nelson Griggs sold 2,064 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $76.58, for a total transaction of $158,061.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley J. Peterson sold 19,169 shares of Nasdaq stock in a transaction on Friday, January 12th. The shares were sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the completion of the transaction, the insider now directly owns 32,214 shares in the company, valued at $2,599,669.80. The disclosure for this sale can be found here. In the last three months, insiders sold 31,701 shares of company stock valued at $2,552,781. Insiders own 1.60% of the company’s stock.

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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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