Nasdaq Inc. (NDAQ) Sets New 1-Year High at $71.75
Shares of Nasdaq Inc. (NASDAQ:NDAQ) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.75 and last traded at $71.59, with a volume of 452,659 shares changing hands. The stock had previously closed at $71.20.
A number of analysts have recently issued reports on NDAQ shares. Evercore ISI downgraded shares of Nasdaq from a “buy” rating to a “hold” rating and lowered their price objective for the company from $69.00 to $68.00 in a report on Tuesday, July 5th. Royal Bank Of Canada lifted their price objective on shares of Nasdaq from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, April 13th. Barclays PLC lowered their price objective on shares of Nasdaq from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Raymond James Financial Inc. reiterated a “buy” rating and issued a $67.00 price objective (down from $70.00) on shares of Nasdaq in a report on Tuesday, April 12th. Finally, Deutsche Bank AG lifted their price objective on shares of Nasdaq from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $68.03.
The firm has a market capitalization of $11.80 billion and a P/E ratio of 24.75. The stock’s 50 day moving average price is $66.26 and its 200 day moving average price is $64.20.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $559 million for the quarter, compared to analyst estimates of $548 million. Nasdaq’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Equities analysts forecast that Nasdaq Inc. will post $3.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, September 14th.
In other news, EVP Thomas A. Wittman sold 24,893 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total transaction of $1,669,822.44. Following the transaction, the executive vice president now directly owns 64,956 shares of the company’s stock, valued at $4,357,248.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greifeld sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $65.21, for a total value of $6,521,000.00. Following the transaction, the chief executive officer now directly owns 1,040,093 shares in the company, valued at $67,824,464.53. The disclosure for this sale can be found here.
A number of large investors recently added to or reduced their stakes in the stock. Utah Retirement Systems raised its stake in Nasdaq by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,718 shares of the company’s stock worth $1,205,000 after buying an additional 100 shares during the last quarter. KBC Group NV raised its stake in Nasdaq by 83.6% in the fourth quarter. KBC Group NV now owns 59,841 shares of the company’s stock worth $3,481,000 after buying an additional 27,244 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Nasdaq by 176.0% in the fourth quarter. State of Tennessee Treasury Department now owns 154,271 shares of the company’s stock worth $8,974,000 after buying an additional 98,380 shares during the last quarter. Employees Retirement System of Texas raised its stake in Nasdaq by 6.7% in the fourth quarter. Employees Retirement System of Texas now owns 140,300 shares of the company’s stock worth $8,161,000 after buying an additional 8,800 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in Nasdaq during the fourth quarter worth approximately $8,657,000.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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