Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High After Analyst Upgrade

Shares of Nasdaq, Inc. (NASDAQ:NDAQ) reached a new 52-week high during trading on Wednesday after Argus raised their price target on the stock from $76.00 to $82.00. Argus currently has a buy rating on the stock. Nasdaq traded as high as $79.27 and last traded at $77.88, with a volume of 181025 shares. The stock had previously closed at $76.14.

NDAQ has been the subject of a number of other reports. UBS Group upped their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their price target on Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price objective on Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America reduced their target price on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Piper Sandler increased their price target on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $80.33.

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at $10,757,955.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Nasdaq news, insider Pc Nelson Griggs sold 6,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the completion of the sale, the insider now directly owns 215,563 shares of the company’s stock, valued at approximately $16,320,274.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of institutional investors and hedge funds have recently modified their holdings of NDAQ. Y.D. More Investments Ltd grew its holdings in Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Nasdaq in the 2nd quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Nasdaq during the third quarter worth $27,000. Crewe Advisors LLC lifted its stake in Nasdaq by 164.4% in the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after buying an additional 314 shares during the period. Finally, LRI Investments LLC bought a new position in Nasdaq during the first quarter worth about $31,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Trading Up 0.8 %

The business has a 50 day moving average price of $73.49 and a 200 day moving average price of $66.59. The company has a market capitalization of $44.93 billion, a P/E ratio of 46.81, a PEG ratio of 2.93 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. Analysts anticipate that Nasdaq, Inc. will post 2.78 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.23%. Nasdaq’s dividend payout ratio (DPR) is currently 57.49%.

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.