Nasdaq (NASDAQ:NDAQ) Given New $74.00 Price Target at Keefe, Bruyette & Woods

Nasdaq (NASDAQ:NDAQ) had its target price decreased by Keefe, Bruyette & Woods from $75.00 to $74.00 in a report published on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

NDAQ has been the subject of a number of other research reports. Edward Jones began coverage on shares of Nasdaq in a report on Wednesday, April 3rd. They issued a buy rating for the company. Citigroup raised their price target on shares of Nasdaq from $56.00 to $63.00 and gave the stock a neutral rating in a report on Friday, January 12th. Piper Sandler raised their price target on shares of Nasdaq from $70.00 to $71.00 and gave the stock an overweight rating in a report on Thursday, February 1st. The Goldman Sachs Group upgraded shares of Nasdaq from a neutral rating to a buy rating and set a $73.00 price target for the company in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Nasdaq from a sell rating to a hold rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $66.92.

Nasdaq Stock Down 0.3 %

NDAQ stock opened at $60.12 on Friday. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.77 and a beta of 0.93. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.90. Nasdaq has a 12 month low of $46.88 and a 12 month high of $64.25. The firm has a 50-day moving average of $59.93 and a two-hundred day moving average of $56.46.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, analysts forecast that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s dividend payout ratio (DPR) is currently 46.32%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the transaction, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nasdaq

Institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in shares of Nasdaq during the 3rd quarter worth $26,000. Salem Investment Counselors Inc. lifted its position in shares of Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the 4th quarter worth $29,000. Carmel Capital Partners LLC purchased a new stake in shares of Nasdaq during the 3rd quarter worth $32,000. Finally, Allworth Financial LP lifted its position in shares of Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 349 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.