Nasdaq (NASDAQ:NDAQ) Reaches New 52-Week High Following Analyst Upgrade

Nasdaq, Inc. (NASDAQ:NDAQ)’s stock price reached a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $160.00 to $165.00. Piper Sandler currently has an overweight rating on the stock. Nasdaq traded as high as $153.09 and last traded at $152.66, with a volume of 844 shares. The stock had previously closed at $150.78.

NDAQ has been the topic of several other reports. Citigroup upped their target price on shares of Nasdaq from $144.00 to $147.00 in a research report on Friday, January 29th. Barclays upped their price objective on Nasdaq from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and set a $164.00 target price for the company in a report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Nasdaq from $159.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, January 13th. Finally, Rosenblatt Securities raised their price target on Nasdaq from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, February 1st. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Nasdaq presently has a consensus rating of “Buy” and an average target price of $144.37.

In related news, EVP Lars Ottersgard sold 6,215 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $142.60, for a total value of $886,259.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann M. Dennison sold 2,034 shares of the stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $141.44, for a total value of $287,688.96. The disclosure for this sale can be found here. Insiders have sold 31,022 shares of company stock valued at $4,373,438 over the last three months. Insiders own 0.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NDAQ. Norges Bank purchased a new position in Nasdaq during the 4th quarter valued at about $156,026,000. Morgan Stanley boosted its stake in shares of Nasdaq by 63.2% during the fourth quarter. Morgan Stanley now owns 599,733 shares of the financial services provider’s stock valued at $79,608,000 after purchasing an additional 232,180 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in Nasdaq during the fourth quarter valued at approximately $20,512,000. Public Employees Retirement Association of Colorado raised its stake in Nasdaq by 751.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 144,735 shares of the financial services provider’s stock worth $19,212,000 after buying an additional 127,728 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Nasdaq by 69.0% during the fourth quarter. Renaissance Technologies LLC now owns 274,000 shares of the financial services provider’s stock worth $36,371,000 after buying an additional 111,900 shares during the period. 74.23% of the stock is owned by institutional investors and hedge funds.

The stock has a fifty day moving average price of $145.26 and a 200-day moving average price of $134.32. The firm has a market capitalization of $25.08 billion, a PE ratio of 27.62, a P/E/G ratio of 2.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.16 and a current ratio of 1.16.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, January 27th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.15. Nasdaq had a return on equity of 17.15% and a net margin of 17.41%. The firm had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $751.65 million. During the same period in the prior year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. Research analysts expect that Nasdaq, Inc. will post 6.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, March 11th. Nasdaq’s dividend payout ratio is currently 39.20%.

About Nasdaq (NASDAQ:NDAQ)

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates through four segments: Market Services, Corporate Platforms, Investment Intelligence, and Market Technology. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.

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