Nasdaq’s (NDAQ) Hold Rating Reiterated at Jefferies Group
Nasdaq Inc. (NASDAQ:NDAQ)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group in a research note issued to investors on Thursday. They presently have a $68.00 target price on the stock. Jefferies Group’s target price would indicate a potential upside of 2.32% from the company’s current price.
NDAQ has been the subject of a number of other reports. Deutsche Bank AG raised their price objective on Nasdaq from $76.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Nasdaq in a research report on Monday, August 8th. Zacks Investment Research cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Evercore ISI cut Nasdaq from a “buy” rating to a “hold” rating and cut their price objective for the company from $69.00 to $68.00 in a research report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods raised their price objective on Nasdaq from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $70.42.
Nasdaq (NASDAQ:NDAQ) traded down 0.12% on Thursday, reaching $66.38. 365,041 shares of the company traded hands. The firm has a 50 day moving average price of $69.16 and a 200 day moving average price of $66.68. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 22.98 and a beta of 0.81. Nasdaq has a 52-week low of $53.70 and a 52-week high of $71.92.
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Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The company earned $559 million during the quarter, compared to analysts’ expectations of $548 million. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Nasdaq will post $3.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.93%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s payout ratio is presently 44.44%.
In other news, CEO Robert Greifeld sold 199,480 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $70.28, for a total value of $14,019,454.40. Following the transaction, the chief executive officer now directly owns 1,064,815 shares of the company’s stock, valued at approximately $74,835,198.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward S. Knight sold 19,555 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $70.40, for a total value of $1,376,672.00. Following the completion of the transaction, the insider now directly owns 76,407 shares in the company, valued at $5,379,052.80. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NDAQ. Redwood Investments LLC acquired a new position in shares of Nasdaq during the second quarter worth about $14,934,000. Cullen Frost Bankers Inc. increased its position in shares of Nasdaq by 12.6% in the second quarter. Cullen Frost Bankers Inc. now owns 350,257 shares of the company’s stock worth $22,651,000 after buying an additional 39,307 shares in the last quarter. Shell Asset Management Co. increased its position in shares of Nasdaq by 270.9% in the second quarter. Shell Asset Management Co. now owns 23,045 shares of the company’s stock worth $1,490,000 after buying an additional 16,832 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Nasdaq by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,012,957 shares of the company’s stock worth $67,112,000 after buying an additional 24,896 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Nasdaq by 4.5% in the first quarter. UBS Asset Management Americas Inc. now owns 279,276 shares of the company’s stock worth $18,538,000 after buying an additional 11,946 shares in the last quarter. 74.21% of the stock is currently owned by 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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