Piper Sandler Boosts Nasdaq (NASDAQ:NDAQ) Price Target to $80.00

Nasdaq (NASDAQ:NDAQ) had its target price upped by Piper Sandler from $73.00 to $80.00 in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on NDAQ. Bank of America dropped their price target on Nasdaq from $90.00 to $88.00 and set a buy rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada initiated coverage on shares of Nasdaq in a research report on Friday, September 27th. They issued an outperform rating and a $88.00 target price on the stock. Oppenheimer increased their price target on shares of Nasdaq from $78.00 to $80.00 and gave the stock an outperform rating in a research note on Monday, September 9th. 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 research note on Friday, July 26th. Finally, TD Cowen began coverage on shares of Nasdaq in a research note on Thursday, September 26th. They set a hold rating and a $83.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Nasdaq currently has a consensus rating of Moderate Buy and an average target price of $76.73.

Nasdaq Trading Down 0.3 %

Shares of NDAQ stock opened at $71.62 on Tuesday. The stock has a market capitalization of $41.25 billion, a PE ratio of 41.16, a P/E/G ratio of 2.99 and a beta of 0.95. Nasdaq has a 1-year low of $47.56 and a 1-year high of $74.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $71.33 and a 200 day moving average of $64.86.

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

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, September 13th. Nasdaq’s dividend payout ratio is presently 55.17%.

Insiders Place Their Bets

In other Nasdaq 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 value of $2,764,295,688.06. Following the completion of the transaction, the insider now directly owns 42,804,207 shares in the company, valued at $2,764,295,688.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in shares of Nasdaq by 7.5% in the first quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock valued at $15,198,000 after purchasing an additional 16,797 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Nasdaq by 312.0% in the 1st quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock worth $11,601,000 after buying an additional 139,228 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Nasdaq by 237.3% in the 1st quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock worth $1,946,000 after purchasing an additional 21,699 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Nasdaq by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock valued at $32,624,000 after purchasing an additional 57,900 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Nasdaq during the 1st quarter valued at $2,595,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

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.