Wells Fargo & Co Upgrades Nasdaq (NDAQ) to “Outperform”

Nasdaq (NASDAQ:NDAQ) was upgraded by equities research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $85.00 price target on the financial services provider’s stock, up from their previous price target of $83.00. Wells Fargo & Co’s target price would suggest a potential upside of 6.57% from the company’s previous close.

NDAQ has been the subject of a number of other reports. ValuEngine lowered shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. BidaskClub downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Barclays cut their price objective on shares of Nasdaq from $85.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Nasdaq from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Citigroup boosted their price objective on shares of Nasdaq from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $82.05.

Shares of Nasdaq (NASDAQ NDAQ) traded up $1.26 on Monday, reaching $79.76. 1,245,800 shares of the company’s stock were exchanged, compared to its average volume of 1,136,612. The stock has a market cap of $13,048.76, a price-to-earnings ratio of 18.43, a PEG ratio of 1.68 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.05. Nasdaq has a 1-year low of $65.98 and a 1-year high of $83.29.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The business had revenue of $635.00 million during the quarter, compared to analyst estimates of $628.36 million. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. research analysts expect that Nasdaq will post 4.8 earnings per share for the current fiscal year.

Nasdaq declared that its Board of Directors has authorized a stock repurchase program on Monday, January 29th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, Director Charlene T. Begley sold 4,017 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.37, for a total value of $326,863.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Pc Nelson Griggs sold 2,064 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $76.58, for a total transaction of $158,061.12. The disclosure for this sale can be found here. Insiders sold a total of 31,701 shares of company stock valued at $2,552,781 in the last ninety days. 1.60% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of NDAQ. American Century Companies Inc. boosted its holdings in Nasdaq by 303.7% in the 4th quarter. American Century Companies Inc. now owns 1,033,797 shares of the financial services provider’s stock worth $79,427,000 after buying an additional 777,702 shares during the period. Millennium Management LLC boosted its holdings in Nasdaq by 78.0% in the 4th quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after buying an additional 685,770 shares during the period. Mackenzie Financial Corp boosted its holdings in Nasdaq by 186.3% in the 4th quarter. Mackenzie Financial Corp now owns 983,236 shares of the financial services provider’s stock worth $75,542,000 after buying an additional 639,843 shares during the period. Two Sigma Advisers LP boosted its holdings in Nasdaq by 321.8% in the 4th quarter. Two Sigma Advisers LP now owns 822,101 shares of the financial services provider’s stock worth $63,162,000 after buying an additional 627,200 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Nasdaq by 41.7% in the 4th quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after buying an additional 618,137 shares during the period. 76.49% of the stock is owned by institutional investors.

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Nasdaq Company Profile

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.

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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