Nasdaq (NASDAQ:NDAQ) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, January 19th.
Several other equities analysts also recently weighed in on NDAQ. Bank of America downgraded Nasdaq from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $77.00 to $75.00 in a research note on Monday, October 9th. Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $78.00 price target on shares of Nasdaq in a research report on Thursday, October 12th. Royal Bank of Canada set a $78.00 price objective on Nasdaq and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, Citigroup raised their price objective on Nasdaq from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $82.05.
Nasdaq (NDAQ) traded up $1.45 on Friday, hitting $77.56. The stock had a trading volume of 1,133,618 shares, compared to its average volume of 1,166,476. The stock has a market cap of $12,651.48, a P/E ratio of 17.95, a P/E/G ratio of 1.63 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63. Nasdaq has a fifty-two week low of $65.98 and a fifty-two week high of $83.29.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $628.36 million. Nasdaq had a return on equity of 12.75% and a net margin of 18.49%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. analysts forecast that Nasdaq will post 4.8 EPS for the current year.
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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Pc Nelson Griggs sold 2,064 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $76.58, for a total transaction of $158,061.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charlene T. Begley sold 4,017 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $81.37, for a total value of $326,863.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,701 shares of company stock valued at $2,552,781. 1.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC lifted its position in Nasdaq by 13.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,454 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 178 shares during the period. Delta Asset Management LLC TN lifted its position in Nasdaq by 6,087.0% in the fourth quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,400 shares during the period. Invictus RG acquired a new stake in Nasdaq in the third quarter worth approximately $111,000. ARK Investment Management LLC acquired a new stake in Nasdaq in the fourth quarter worth approximately $122,000. Finally, Cerebellum GP LLC acquired a new stake in Nasdaq in the fourth quarter worth approximately $125,000. Institutional investors and hedge funds own 76.49% of the company’s stock.
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.
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