Nasdaq (NASDAQ:NDAQ) PT Lowered to $73.00 at Barclays

Nasdaq (NASDAQ:NDAQ) had its price objective cut by Barclays from $76.00 to $73.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Oppenheimer increased their price objective on Nasdaq from $65.00 to $68.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Rosenblatt Securities reduced their price target on shares of Nasdaq from $82.00 to $76.00 and set a buy rating for the company in a research note on Friday. Citigroup boosted their price objective on shares of Nasdaq from $56.00 to $63.00 and gave the company a neutral rating in a report on Friday, January 12th. UBS Group raised their target price on shares of Nasdaq from $56.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Finally, Piper Sandler boosted their target price on shares of Nasdaq from $70.00 to $71.00 and gave the company an overweight rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $66.92.

Nasdaq Price Performance

NDAQ opened at $60.12 on Friday. The firm has a market cap of $34.58 billion, a PE ratio of 31.64, a P/E/G ratio of 2.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 1.01. Nasdaq has a 1 year low of $46.88 and a 1 year high of $64.25. The stock has a 50-day moving average price of $59.93 and a 200-day moving average price of $56.55.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Sell-side analysts predict that Nasdaq will post 2.71 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, June 14th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s payout ratio is currently 46.32%.

Insider Activity

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the transaction, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the sale, the insider now owns 58,341,545 shares in the company, valued at $3,383,809,610. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NDAQ. Loomis Sayles & Co. L P bought a new position in Nasdaq during the third quarter valued at approximately $26,000. Salem Investment Counselors Inc. raised its holdings in shares of Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Nasdaq during the 4th quarter valued at approximately $29,000. Carmel Capital Partners LLC purchased a new position in shares of Nasdaq in the third quarter valued at $32,000. Finally, Allworth Financial LP increased its position in Nasdaq by 74.9% in the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.