BidaskClub upgraded shares of Nasdaq (NASDAQ:NDAQ) from a buy rating to a strong-buy rating in a research note released on Tuesday.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Nasdaq from a hold rating to a buy rating and set a $90.00 price objective on the stock in a report on Wednesday, January 10th. Bank of America upped their price objective on shares of Nasdaq from $79.00 to $82.00 and gave the stock an underperform rating in a report on Thursday, February 1st. Jefferies Group restated a hold rating and issued a $83.50 price objective on shares of Nasdaq in a report on Tuesday, January 16th. UBS restated a buy rating and issued a $100.00 price objective (up previously from $97.00) on shares of Nasdaq in a report on Tuesday, March 6th. Finally, Deutsche Bank upped their price objective on shares of Nasdaq from $90.00 to $95.00 and gave the stock a buy rating in a report on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Nasdaq has an average rating of Buy and a consensus target price of $86.32.
NDAQ stock opened at $85.20 on Tuesday. Nasdaq has a 1 year low of $65.98 and a 1 year high of $87.00. The stock has a market capitalization of $14,360.77, a P/E ratio of 20.99, a P/E/G ratio of 1.84 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $635.00 million during the quarter, compared to the consensus estimate of $628.36 million. During the same period in the prior year, the firm earned $0.95 earnings per share. 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 fiscal year.
Nasdaq announced that its board has approved a share buyback plan on Monday, January 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.44 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.07%. Nasdaq’s dividend payout ratio is presently 37.44%.
In other news, insider Lars Ottersgard sold 6,451 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $80.75, for a total transaction of $520,918.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward S. Knight sold 13,200 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the sale, the insider now 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 quarter, insiders have sold 42,837 shares of company stock worth $3,442,932. Corporate insiders own 0.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Delpha Capital Management LLC purchased a new stake in shares of Nasdaq during the fourth quarter valued at approximately $103,000. Delta Asset Management LLC TN grew its holdings in shares of Nasdaq by 6,087.0% during the fourth quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,400 shares during the last quarter. Invictus RG purchased a new stake in shares of Nasdaq during the third quarter valued at approximately $111,000. ARK Investment Management LLC purchased a new stake in shares of Nasdaq during the fourth quarter valued at approximately $122,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Nasdaq during the fourth quarter valued at approximately $125,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
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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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