Citigroup Inc. Raises Nasdaq, Inc. (NDAQ) Price Target to $82.00
Nasdaq, Inc. (NASDAQ:NDAQ) had its target price lifted by Citigroup Inc. from $75.00 to $82.00 in a research note published on Thursday morning. Citigroup Inc. currently has a neutral rating on the financial services provider’s stock.
A number of other brokerages have also recently issued reports on NDAQ. BidaskClub cut Nasdaq from a hold rating to a sell rating in a research note on Friday, June 23rd. Jefferies Group LLC reiterated a hold rating and set a $71.00 price objective (up previously from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. Zacks Investment Research upgraded Nasdaq from a sell rating to a hold rating in a research note on Monday, July 17th. Royal Bank Of Canada set a $74.00 price objective on Nasdaq and gave the stock a hold rating in a research note on Monday, July 17th. Finally, UBS AG reiterated a buy rating and set a $85.00 price objective (up previously from $80.00) on shares of Nasdaq in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $77.50.
Shares of Nasdaq (NASDAQ:NDAQ) traded down 0.03% during trading on Thursday, reaching $72.92. 1,934,448 shares of the company traded hands. The stock has a market cap of $12.16 billion, a P/E ratio of 55.41 and a beta of 0.77. Nasdaq has a 12 month low of $63.30 and a 12 month high of $78.31. The stock’s 50 day moving average price is $75.42 and its 200-day moving average price is $72.14.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The firm 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 business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. On average, equities research analysts expect that Nasdaq will post $4.16 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, September 14th. Nasdaq’s payout ratio is presently 118.75%.
In related news, insider Edward S. Knight sold 14,629 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.74, for a total transaction of $1,122,629.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward S. Knight sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $74.39, for a total value of $1,115,850.00. Following the transaction, the insider now directly owns 78,063 shares in the company, valued at $5,807,106.57. The disclosure for this sale can be found here. Insiders have sold a total of 36,844 shares of company stock worth $2,788,100 over the last three months. 1.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of NDAQ. BT Investment Management Ltd acquired a new position in shares of Nasdaq during the 2nd quarter worth approximately $97,982,000. NN Investment Partners Holdings N.V. increased its holdings in shares of Nasdaq by 26,658.6% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,178,181 shares of the financial services provider’s stock worth $84,227,000 after acquiring an additional 1,173,778 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Nasdaq by 43.5% during the 2nd quarter. Bessemer Group Inc. now owns 2,332,475 shares of the financial services provider’s stock worth $166,749,000 after acquiring an additional 707,537 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Nasdaq during the 2nd quarter worth approximately $40,996,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Nasdaq by 3,606.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 569,103 shares of the financial services provider’s stock worth $40,685,000 after acquiring an additional 553,747 shares during the last quarter. 74.44% of the stock is currently owned by institutional investors and hedge funds.
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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