Nasdaq (NASDAQ:NDAQ) had its price target lifted by research analysts at Bank of America from $79.00 to $82.00 in a report issued on Thursday. The firm presently has an “underperform” rating on the financial services provider’s stock. Bank of America’s price objective suggests a potential upside of 0.77% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. BidaskClub cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Jefferies Group reissued a “hold” rating and issued a $83.50 price target on shares of Nasdaq in a research note on Tuesday, January 16th. Zacks Investment Research cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Wells Fargo & Co reissued a “market perform” rating and issued a $83.00 price target (up previously from $77.00) on shares of Nasdaq in a research note on Wednesday, January 10th. Finally, ValuEngine cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $81.86.
Shares of Nasdaq (NASDAQ:NDAQ) traded up $0.46 on Thursday, reaching $81.37. The company had a trading volume of 1,280,000 shares, compared to its average volume of 897,359. The company has a market cap of $13,570.00, a P/E ratio of 18.84, a P/E/G ratio of 1.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.15. Nasdaq has a 52-week low of $65.98 and a 52-week high of $83.29.
Nasdaq announced that its Board of Directors has authorized a stock buyback plan on Monday, January 29th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Pc Nelson Griggs sold 1,396 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $74.72, for a total transaction of $104,309.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley J. Peterson sold 19,169 shares of the company’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 directly owns 32,214 shares of the company’s stock, valued at $2,599,669.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,629 shares of company stock valued at $1,809,309. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Nasdaq by 2.9% during the third quarter. Bessemer Group Inc. now owns 2,400,450 shares of the financial services provider’s stock valued at $186,204,000 after purchasing an additional 67,975 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Nasdaq by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 2,210,659 shares of the financial services provider’s stock valued at $171,614,000 after purchasing an additional 151,864 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Nasdaq by 1.3% during the third quarter. Frontier Capital Management Co. LLC now owns 1,249,927 shares of the financial services provider’s stock valued at $96,957,000 after purchasing an additional 16,264 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Nasdaq by 6.6% during the third quarter. Handelsbanken Fonder AB now owns 645,200 shares of the financial services provider’s stock valued at $50,048,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Nasdaq by 31.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 607,827 shares of the financial services provider’s stock valued at $47,149,000 after purchasing an additional 144,143 shares during the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.
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About Nasdaq
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.
