Zacks Investment Research downgraded shares of Nasdaq, Inc. (NASDAQ:NDAQ) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Shares of Nasdaq have underperformed the industry, in a year’s time. Also, the company witnessed its 2017 and 2018 estimates moving south over the last 60 days. Its elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. Nonetheless, Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. It displays prudence by accelerating its non-transaction revenue base. It realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well. It had identified $10-$20 million in additional cost synergies and expects to deploy capital in de-leveraging over the next four quarters, investing in growth initiatives and engaging in shareholders friendly moves.”

A number of other brokerages have also issued reports on NDAQ. BidaskClub lowered shares of Nasdaq from a buy rating to a hold rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a sector perform rating and set a $76.00 target price (up from $74.00) on shares of Nasdaq in a research note on Thursday, July 27th. Jefferies Group LLC reissued a hold rating and set a $71.00 target price (up from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. UBS AG restated a buy rating and issued a $85.00 price objective (up from $80.00) on shares of Nasdaq in a report on Thursday, July 27th. Finally, Bank of America Corporation downgraded Nasdaq from a neutral rating to an underperform rating and decreased their price objective for the company from $77.00 to $75.00 in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $76.10.

Shares of Nasdaq (NDAQ) opened at 74.35 on Monday. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 56.50 and a beta of 0.77. The company’s 50-day moving average is $75.73 and its 200-day moving average is $71.85. Nasdaq has a 12-month low of $63.30 and a 12-month high of $78.31.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. The company had revenue of $602.00 million during the quarter, compared to analyst estimates of $596.55 million. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. Nasdaq’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Analysts predict that Nasdaq will post $4.17 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.04%. Nasdaq’s dividend payout ratio is presently 118.75%.

In other news, insider Edward S. Knight sold 15,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $74.39, for a total transaction of $1,115,850.00. Following the sale, the insider now owns 78,063 shares in the company, valued at $5,807,106.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann M. Dennison sold 1,170 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $76.32, for a total value of $89,294.40. The disclosure for this sale can be found here. Insiders sold 36,844 shares of company stock valued at $2,788,100 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Advisor Partners LLC purchased a new stake in Nasdaq in the second quarter valued at approximately $214,000. Nikko Asset Management Americas Inc. boosted its position in Nasdaq by 1,325.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock valued at $9,072,000 after buying an additional 118,000 shares during the last quarter. Commerce Bank boosted its position in Nasdaq by 1.9% in the second quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock valued at $20,292,000 after buying an additional 5,401 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Nasdaq in the second quarter valued at approximately $645,000. Finally, GAM Holding AG boosted its position in Nasdaq by 0.7% in the second quarter. GAM Holding AG now owns 28,766 shares of the financial services provider’s stock valued at $2,056,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.

Nasdaq Company Profile

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.

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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