Nasdaq (NASDAQ:NDAQ) Reaches New 12-Month High on Analyst Upgrade

Shares of Nasdaq, Inc. (NASDAQ:NDAQ) hit a new 52-week high during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $85.00 to $92.00. Morgan Stanley currently has an overweight rating on the stock. Nasdaq traded as high as $74.93 and last traded at $74.91, with a volume of 2065641 shares changing hands. The stock had previously closed at $74.14.

NDAQ has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a report on Tuesday, October 8th. Oppenheimer increased their price objective on Nasdaq from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays lifted their target price on Nasdaq from $77.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price target on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America dropped their price objective on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.06.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the sale, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd boosted its holdings in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the period. Hobbs Group Advisors LLC purchased a new position in Nasdaq in the 2nd quarter worth approximately $26,000. Salem Investment Counselors Inc. boosted its stake in Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares during the period. Crewe Advisors LLC grew its holdings in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after buying an additional 314 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Nasdaq in the first quarter worth $31,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 1.0 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $43.09 billion, a PE ratio of 39.02, a PEG ratio of 2.99 and a beta of 0.95. The company’s 50 day moving average is $71.89 and its two-hundred day moving average is $65.15.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts anticipate that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, September 13th. Nasdaq’s dividend payout ratio (DPR) is 50.53%.

Nasdaq Company Profile

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.