Nasdaq Inc (NASDAQ:NDAQ) was the target of unusually large options trading activity on Tuesday. Investors purchased 1,369 put options on the company. This is an increase of approximately 2,260% compared to the typical daily volume of 58 put options.
NDAQ has been the subject of several research analyst reports. UBS reaffirmed a “buy” rating and issued a $89.00 target price (up from $83.00) on shares of Nasdaq in a research report on Monday, December 11th. BidaskClub cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. ValuEngine cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Wells Fargo reaffirmed a “market perform” rating and issued a $83.00 target price (up from $77.00) on shares of Nasdaq in a research report on Wednesday, January 10th. Finally, Zacks Investment Research raised shares of Nasdaq from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $84.23.
In other Nasdaq news, insider Bradley J. Peterson sold 19,169 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $80.70, for a total value of $1,546,938.30. Following the sale, the insider now owns 32,214 shares of the company’s stock, valued at approximately $2,599,669.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward S. Knight sold 13,200 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the completion of the sale, the insider now directly owns 73,569 shares in the company, valued at approximately $5,842,114.29. The disclosure for this sale can be found here. In the last three months, insiders sold 42,837 shares of company stock worth $3,442,932. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in Nasdaq by 14.5% during the 3rd quarter. Toronto Dominion Bank now owns 44,242 shares of the financial services provider’s stock valued at $3,431,000 after acquiring an additional 5,610 shares during the period. Advisor Group Inc. lifted its position in Nasdaq by 116.0% during the 3rd quarter. Advisor Group Inc. now owns 16,244 shares of the financial services provider’s stock valued at $1,260,000 after acquiring an additional 8,723 shares during the period. Highstreet Asset Management Inc. purchased a new position in Nasdaq during the 4th quarter valued at about $357,000. Cipher Capital LP purchased a new position in Nasdaq during the 3rd quarter valued at about $722,000. Finally, Vident Investment Advisory LLC purchased a new position in Nasdaq during the 3rd quarter valued at about $558,000. 76.48% of the stock is owned by institutional investors.
NDAQ stock opened at $84.15 on Wednesday. Nasdaq has a 12-month low of $65.98 and a 12-month high of $87.00. The stock has a market cap of $13,927.71, a PE ratio of 19.77, a P/E/G ratio of 1.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $628.36 million. During the same period last year, the company posted $0.95 EPS. Nasdaq’s revenue was up 6.0% on a year-over-year basis. equities analysts anticipate that Nasdaq will post 4.82 earnings per share for the current year.
Nasdaq declared that its Board of Directors has initiated a share repurchase plan on Monday, January 29th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. Nasdaq’s dividend payout ratio (DPR) is currently 35.19%.
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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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