Nasdaq (NASDAQ:NDAQ) Price Target Lowered to $76.00 at Rosenblatt Securities

Nasdaq (NASDAQ:NDAQ) had its price objective cut by Rosenblatt Securities from $82.00 to $76.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on NDAQ. The Goldman Sachs Group raised shares of Nasdaq from a neutral rating to a buy rating and set a $73.00 price target for the company in a research note on Tuesday, March 26th. Citigroup lifted their price target on shares of Nasdaq from $56.00 to $63.00 and gave the company a neutral rating in a research note on Friday, January 12th. StockNews.com raised shares of Nasdaq from a sell rating to a hold rating in a research note on Wednesday, March 27th. Piper Sandler lifted their price target 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. Finally, Barclays assumed coverage on shares of Nasdaq in a research note on Thursday, April 11th. They issued an overweight rating and a $76.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Nasdaq currently has an average rating of Moderate Buy and an average target price of $66.92.

Nasdaq Stock Down 0.3 %

Shares of NASDAQ:NDAQ opened at $60.12 on Friday. Nasdaq has a 1 year low of $46.88 and a 1 year high of $64.25. The business has a 50 day simple moving average of $59.93 and a two-hundred day simple moving average of $56.46. The firm has a market capitalization of $34.58 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.77 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 (NASDAQ:NDAQ) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts predict that Nasdaq will post 2.75 EPS for the current year.

Nasdaq Increases Dividend

The company 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 $0.24 dividend. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, June 14th. Nasdaq’s payout ratio is currently 46.32%.

Insiders Place Their Bets

In other Nasdaq news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following 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 available through the SEC website. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s 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 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 Securities & Exchange Commission, which is available through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of the business’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 sale, the executive vice president now directly owns 61,672 shares in the company, valued at $3,879,785.52. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board grew its holdings in shares of Nasdaq by 48.7% during the third quarter. Canada Pension Plan Investment Board now owns 428,643 shares of the financial services provider’s stock valued at $20,828,000 after buying an additional 140,286 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Nasdaq by 10.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 446,910 shares of the financial services provider’s stock valued at $21,715,000 after purchasing an additional 43,910 shares during the last quarter. ING Groep NV boosted its holdings in Nasdaq by 6.9% in the third quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock valued at $2,616,000 after purchasing an additional 3,455 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in Nasdaq by 29.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 365,494 shares of the financial services provider’s stock valued at $21,250,000 after purchasing an additional 83,227 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Nasdaq by 1.8% in the fourth quarter. Nordea Investment Management AB now owns 2,326,799 shares of the financial services provider’s stock valued at $135,396,000 after purchasing an additional 40,215 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

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.