Investors Buy Nasdaq, Inc. (NDAQ) on Weakness
Investors purchased shares of Nasdaq, Inc. (NASDAQ:NDAQ) on weakness during trading hours on Friday. $56.51 million flowed into the stock on the tick-up and $12.28 million flowed out of the stock on the tick-down, for a money net flow of $44.23 million into the stock. Of all stocks tracked, Nasdaq had the 18th highest net in-flow for the day. Nasdaq traded down ($0.02) for the day and closed at $72.92
Several analysts recently issued reports on NDAQ shares. BidaskClub upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Keefe, Bruyette & Woods set a $76.00 price target on shares of Nasdaq and gave the stock a “hold” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $76.00 price target on shares of Nasdaq in a research report on Monday, September 11th. Bank of America Corporation lowered shares of Nasdaq from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $77.00 to $75.00 in a research report on Monday, October 9th. Finally, Barclays PLC started coverage on shares of Nasdaq in a research report on Friday, September 8th. They set an “overweight” rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Nasdaq has a consensus rating of “Hold” and an average target price of $77.50.
The stock has a market cap of $12.16 billion, a P/E ratio of 55.41 and a beta of 0.77. The company’s 50 day moving average is $75.49 and its 200 day moving average is $72.12.
Nasdaq (NASDAQ:NDAQ) last announced its 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 the consensus estimate of $596.55 million. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, analysts predict that Nasdaq, Inc. will post $4.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.08%. Nasdaq’s dividend payout ratio (DPR) is currently 118.75%.
In other news, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total transaction of $89,294.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bjorn Sibbern sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $76.17, for a total transaction of $228,510.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,844 shares of company stock worth $2,788,100. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Nasdaq by 1.8% during 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 increased its holdings in shares of Nasdaq by 13.1% during 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. boosted its position in 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 buying an additional 707,537 shares during the last quarter. BT Investment Management Ltd purchased a new stake in Nasdaq in the second quarter valued at approximately $97,982,000. Finally, TimesSquare Capital Management LLC boosted its position in 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 buying an additional 216,100 shares during the last quarter. Hedge funds and other institutional investors own 74.44% 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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