Shares of Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report) have received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $110.30.
NDAQ has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. TD Cowen reissued a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Raymond James Financial restated an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Finally, Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a report on Thursday, June 11th.
Read Our Latest Report on NDAQ
Nasdaq Stock Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. On average, research analysts predict that Nasdaq will post 4.15 earnings per share for the current fiscal year.
Nasdaq Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is 36.15%.
Insider Transactions at Nasdaq
In related news, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the transaction, the executive vice president directly owned 128,293 shares in the company, valued at $11,881,214.73. The trade was a 9.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares in the company, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,797 shares of company stock valued at $3,926,319 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Institutional Trading of Nasdaq
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Nasdaq by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock valued at $5,819,727,000 after purchasing an additional 268,481 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Nasdaq in the second quarter valued at approximately $2,931,637,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Nasdaq by 4.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after buying an additional 1,258,964 shares during the period. State Street Corp lifted its stake in shares of Nasdaq by 1.3% during the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock valued at $1,930,808,000 after buying an additional 259,408 shares during the period. Finally, Geode Capital Management LLC boosted its position in Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after acquiring an additional 378,577 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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