Traders Buy Shares of Nasdaq, Inc. (NDAQ) on Weakness
Traders bought shares of Nasdaq, Inc. (NASDAQ:NDAQ) on weakness during trading hours on Wednesday. $32.02 million flowed into the stock on the tick-up and $11.24 million flowed out of the stock on the tick-down, for a money net flow of $20.78 million into the stock. Of all companies tracked, Nasdaq had the 23rd highest net in-flow for the day. Nasdaq traded down ($0.11) for the day and closed at $74.60
A number of brokerages have weighed in on NDAQ. Royal Bank Of Canada set a $78.00 target price on Nasdaq and gave the company a “hold” rating in a research report on Monday. Zacks Investment Research raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub lowered Nasdaq from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 target price on shares of Nasdaq in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $71.00 target price (up from $68.00) on shares of Nasdaq in a research report on Monday, July 17th. One equities research 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’s stock. The company has a consensus rating of “Hold” and a consensus price target of $76.50.
The company has a 50-day moving average of $75.64 and a 200-day moving average of $72.02. The company has a market capitalization of $12.44 billion, a PE ratio of 56.69 and a beta of 0.77.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. On average, equities research analysts anticipate that Nasdaq, Inc. will post $4.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, September 14th. Nasdaq’s payout ratio is currently 118.75%.
In other news, insider Ann M. Dennison sold 1,170 shares of the stock in a transaction on Tuesday, August 22nd. The stock was 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 SEC, which is available through this hyperlink. Also, insider Bjorn Sibbern sold 3,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $76.17, for a total value of $228,510.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,844 shares of company stock worth $2,788,100. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Nasdaq by 1.8% in the second quarter. Vanguard Group Inc. now owns 11,470,748 shares of the financial services provider’s stock valued at $820,043,000 after acquiring an additional 208,253 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Nasdaq by 13.1% in the first quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock valued at $214,929,000 after acquiring an additional 358,414 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Nasdaq by 43.5% in the second quarter. Bessemer Group Inc. now owns 2,332,475 shares of the financial services provider’s stock valued at $166,749,000 after acquiring an additional 707,537 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Nasdaq in the second quarter valued at $97,982,000. Finally, TimesSquare Capital Management LLC raised its stake in shares of Nasdaq by 21.9% in the second quarter. TimesSquare Capital Management LLC now owns 1,203,500 shares of the financial services provider’s stock valued at $86,038,000 after acquiring an additional 216,100 shares in the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Traders Buy Shares of Nasdaq, Inc. (NDAQ) on Weakness” was originally published by Daily Political and is owned by of Daily Political. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/10/18/traders-buy-shares-of-nasdaq-inc-ndaq-on-weakness.html.
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.
Receive News & Ratings for Nasdaq Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nasdaq Inc. and related companies with MarketBeat.com's FREE daily email newsletter.