Nasdaq (NASDAQ:NDAQ) Stock Gets Price Target Trim from TD Cowen

Nasdaq (NASDAQ:NDAQ) had its price target decreased by TD Cowen from $108.00 to $107.00 in a report published on Monday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Barclays reissued an “overweight” rating and issued a $109.00 price target (down from $111.00) on shares of Nasdaq in a research note on Wednesday, October 7th. Piper Sandler reissued an “overweight” rating and set a $108.00 price target (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. Raymond James Financial reissued an “outperform” rating on shares of Nasdaq in a report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $108.83.

Nasdaq Stock Performance

NDAQ opened at $91.96 on Monday. The business’s 50 day moving average is $94.72 and its 200-day moving average is $90.50. The stock has a market cap of $51.40 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq has a twelve month low of $76.55 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts predict that Nasdaq will post 4.13 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is currently 36.15%.

Insider Activity at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president owned 128,293 shares of the company’s stock, valued at $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nelson Griggs sold 11,010 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,172 shares of company stock worth $4,245,088 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Nasdaq

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Nasdaq in the second quarter valued at approximately $2,931,637,000. Bank of America Corp DE bought a new position in shares of Nasdaq during the second quarter worth approximately $603,631,000. The Manufacturers Life Insurance Company acquired a new stake in Nasdaq during the 2nd quarter worth approximately $377,818,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nasdaq by 4.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,884,101 shares of the financial services provider’s stock worth $306,145,000 after purchasing an additional 177,114 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Nasdaq by 2.5% during the 4th quarter. Mariner LLC now owns 2,875,927 shares of the financial services provider’s stock worth $279,345,000 after purchasing an additional 71,249 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.