Nasdaq (NASDAQ:NDAQ) Price Target Cut to $80.00 by Analysts at TD Cowen

Nasdaq (NASDAQ:NDAQ) had its target price decreased by TD Cowen from $81.00 to $80.00 in a research note published on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also commented on NDAQ. Deutsche Bank Aktiengesellschaft increased their price objective on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group increased their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Nasdaq in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.27.

Nasdaq Stock Performance

NDAQ stock opened at $75.55 on Monday. The firm has a 50 day moving average of $72.88 and a two-hundred day moving average of $65.97. Nasdaq has a 12 month low of $48.47 and a 12 month high of $76.71. The company has a market capitalization of $43.51 billion, a price-to-earnings ratio of 45.24, a P/E/G ratio of 3.10 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Nasdaq’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts anticipate that Nasdaq will post 2.76 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

Insider Transactions at Nasdaq

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

Institutional Investors Weigh In On Nasdaq

Several large investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in Nasdaq in the third quarter valued at about $27,000. Y.D. More Investments Ltd raised its stake in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Nasdaq in the 2nd quarter worth approximately $26,000. Claro Advisors LLC bought a new stake in Nasdaq during the 3rd quarter worth approximately $33,000. Finally, Focused Wealth Management Inc bought a new stake in Nasdaq during the 3rd quarter worth approximately $35,000. Institutional investors own 72.47% of the company’s stock.

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.