Bank of America Corporation Downgrades Nasdaq, Inc. (NDAQ) to Underperform
Nasdaq, Inc. (NASDAQ:NDAQ) was downgraded by equities research analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday.
NDAQ has been the subject of a number of other research reports. BidaskClub raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada set a $74.00 price target on shares of Nasdaq and gave the stock a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “hold” rating and issued a $71.00 price target (up previously from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. Finally, UBS AG reissued a “buy” rating and issued a $85.00 price target (up previously from $80.00) on shares of Nasdaq in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $76.22.
Nasdaq (NDAQ) opened at 73.90 on Monday. The company has a market cap of $12.33 billion, a P/E ratio of 56.16 and a beta of 0.77. The company has a 50-day moving average of $75.81 and a 200 day moving average of $71.77. Nasdaq has a 52 week low of $63.30 and a 52 week high of $78.31.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq will post $4.17 EPS for the current fiscal year.
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In other news, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lars Wedenborn sold 3,045 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.13, for a total transaction of $231,815.85. The disclosure for this sale can be found here. Insiders sold a total of 36,844 shares of company stock valued at $2,788,100 in the last ninety days. 1.60% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC raised its holdings in Nasdaq by 13.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,454 shares of the financial services provider’s stock valued at $104,000 after buying an additional 178 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Nasdaq by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after buying an additional 77 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Nasdaq during the 1st quarter valued at $190,000. MML Investors Services LLC bought a new stake in Nasdaq during the 2nd quarter valued at $201,000. Finally, IFP Advisors Inc raised its holdings in Nasdaq by 9.4% during the 2nd quarter. IFP Advisors Inc now owns 2,837 shares of the financial services provider’s stock valued at $203,000 after buying an additional 243 shares during the last quarter. Institutional investors own 74.63% of the company’s stock.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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