Nasdaq (NASDAQ:NDAQ) Reaches New 12-Month High on Analyst Upgrade

Nasdaq, Inc. (NASDAQ:NDAQ) shares hit a new 52-week high on Friday after Morgan Stanley raised their price target on the stock from $85.00 to $92.00. Morgan Stanley currently has an overweight rating on the stock. Nasdaq traded as high as $74.93 and last traded at $74.91, with a volume of 2065641 shares changing hands. The stock had previously closed at $74.14.

A number of other analysts also recently weighed in on NDAQ. Bank of America decreased their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Barclays boosted their target price on shares of Nasdaq from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Nasdaq in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Oppenheimer increased their target price on shares of Nasdaq from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.06.

Insider Buying and Selling

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nasdaq

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its stake in Nasdaq by 4.3% during the third quarter. Raymond James & Associates now owns 1,328,493 shares of the financial services provider’s stock worth $96,993,000 after purchasing an additional 55,248 shares during the period. Friedenthal Financial purchased a new position in shares of Nasdaq in the 3rd quarter worth $805,000. Blue Trust Inc. raised its position in shares of Nasdaq by 96.3% in the 3rd quarter. Blue Trust Inc. now owns 2,846 shares of the financial services provider’s stock worth $208,000 after buying an additional 1,396 shares during the period. Claro Advisors LLC acquired a new position in Nasdaq in the third quarter valued at $33,000. Finally, V Square Quantitative Management LLC grew its position in Nasdaq by 15.4% during the third quarter. V Square Quantitative Management LLC now owns 12,363 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 1,649 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Price Performance

The company has a 50 day simple moving average of $72.02 and a 200 day simple moving average of $65.24. The company has a market capitalization of $43.09 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was up 25.3% on a year-over-year basis. As a group, research analysts predict that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, September 13th. Nasdaq’s dividend payout ratio is presently 50.53%.

Nasdaq Company Profile

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.