Nasdaq (NASDAQ:NDAQ) had its price target upped by Raymond James from $96.00 to $108.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
Several other research analysts also recently issued reports on the company. UBS Group reaffirmed a buy rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. Bank of America set a $77.00 price objective on Zscaler and gave the company a neutral rating in a research note on Friday, May 31st. Finally, Wells Fargo & Co upped their price objective on Apollo Global Management from $38.00 to $42.00 and gave the company an outperform rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $100.70.
Nasdaq stock opened at $104.28 on Wednesday. The firm has a 50 day moving average price of $96.10. Nasdaq has a 1 year low of $75.49 and a 1 year high of $104.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $17.28 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.86 and a beta of 0.64.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.05. Nasdaq had a return on equity of 14.60% and a net margin of 12.67%. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $632.71 million. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The firm’s revenue was down 13.2% compared to the same quarter last year. As a group, equities research analysts predict that Nasdaq will post 4.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This is a boost from Nasdaq’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 1.80%. Nasdaq’s dividend payout ratio is presently 38.84%.
In related news, insider Edward S. Knight sold 22,059 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $90.83, for a total value of $2,003,618.97. Following the sale, the insider now directly owns 95,322 shares in the company, valued at $8,658,097.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lars Wedenborn sold 1,946 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $90.36, for a total value of $175,840.56. The disclosure for this sale can be found here. Insiders sold 31,715 shares of company stock worth $2,923,953 over the last quarter. 0.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in NDAQ. Norges Bank bought a new position in shares of Nasdaq during the 4th quarter worth approximately $93,156,000. First Trust Advisors LP lifted its holdings in shares of Nasdaq by 333.1% in the 1st quarter. First Trust Advisors LP now owns 514,822 shares of the financial services provider’s stock worth $45,042,000 after purchasing an additional 395,962 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nasdaq by 277.6% in the 4th quarter. Millennium Management LLC now owns 318,740 shares of the financial services provider’s stock worth $26,000,000 after purchasing an additional 234,328 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Nasdaq by 5,536.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 222,428 shares of the financial services provider’s stock worth $19,460,000 after purchasing an additional 218,482 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Nasdaq in the 4th quarter worth $16,175,000. Institutional investors and hedge funds own 76.10% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
Further Reading: Fundamental Analysis and Individual Investors
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