Nasdaq Inc. (NDAQ) Given Buy Rating at Barclays PLC
Nasdaq Inc. (NASDAQ:NDAQ)‘s stock had its “buy” rating reaffirmed by research analysts at Barclays PLC in a note issued to investors on Tuesday. They currently have a $79.00 price objective on the stock. Barclays PLC’s price objective indicates a potential upside of 18.94% from the company’s current price.
Several other research firms also recently commented on NDAQ. Deutsche Bank AG upped their price target on Nasdaq from $76.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 price target on shares of Nasdaq in a report on Monday, August 8th. Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Evercore ISI downgraded Nasdaq from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $68.00 in a report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods upped their price objective on Nasdaq from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.60.
Shares of Nasdaq (NASDAQ:NDAQ) traded down 0.72% during midday trading on Tuesday, reaching $65.94. The company’s stock had a trading volume of 923,471 shares. Nasdaq has a one year low of $53.22 and a one year high of $71.92. The stock has a market cap of $10.91 billion, a PE ratio of 22.83 and a beta of 0.81. The firm has a 50-day moving average of $69.41 and a 200-day moving average of $66.69.
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Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm earned $559 million during the quarter, compared to the consensus estimate of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, analysts forecast that Nasdaq will post $3.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.32 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. Nasdaq’s payout ratio is currently 44.44%.
In other Nasdaq news, EVP Thomas A. Wittman sold 24,893 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total value of $1,669,822.44. Following the sale, the executive vice president now owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 2,945 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.52, for a total value of $210,626.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Nasdaq by 162.5% in the second quarter. JPMorgan Chase & Co. now owns 1,456,325 shares of the company’s stock valued at $94,181,000 after buying an additional 901,623 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Nasdaq by 413.5% in the first quarter. Nuveen Asset Management LLC now owns 594,597 shares of the company’s stock valued at $39,469,000 after buying an additional 478,801 shares during the last quarter. Vanguard Group Inc. boosted its stake in Nasdaq by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,535,832 shares of the company’s stock valued at $681,353,000 after buying an additional 407,297 shares during the last quarter. Legal & General Group Plc boosted its stake in Nasdaq by 265.8% in the first quarter. Legal & General Group Plc now owns 502,157 shares of the company’s stock valued at $33,327,000 after buying an additional 364,898 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Nasdaq during the second quarter valued at $17,024,000. 74.21% of the stock is currently owned by hedge funds and other institutional investors.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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