Nasdaq (NASDAQ:NDAQ) Price Target Cut to $96.00 by Analysts at Barclays

Nasdaq (NASDAQ:NDAQ) had its target price lowered by Barclays from $97.00 to $96.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

NDAQ has been the subject of a number of other research reports. UBS Group lifted their target price on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Saturday, December 14th. William Blair began coverage on Nasdaq in a research note on Monday, November 25th. They issued an “outperform” rating on the stock. Piper Sandler upped their price target on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $98.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.73.

Nasdaq Trading Up 1.0 %

NDAQ stock opened at $76.98 on Monday. Nasdaq has a 1-year low of $54.90 and a 1-year high of $83.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $79.29 and its 200-day moving average is $73.12. The firm has a market cap of $44.25 billion, a P/E ratio of 46.10, a P/E/G ratio of 2.59 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Equities analysts anticipate that Nasdaq will post 2.8 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.25%. The ex-dividend date was Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Insider Activity

In other news, EVP Bradley J. Peterson sold 13,642 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the transaction, the executive vice president now owns 142,830 shares of the company’s stock, valued at $10,757,955.60. The trade was a 8.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.75, for a total value of $950,906.25. Following the sale, the executive vice president now directly owns 102,505 shares in the company, valued at $8,072,268.75. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,459 shares of company stock valued at $3,811,808 in the last ninety days. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Nasdaq

Several institutional investors and hedge funds have recently modified their holdings of the business. Verity & Verity LLC lifted its stake in Nasdaq by 26.2% in the fourth quarter. Verity & Verity LLC now owns 9,687 shares of the financial services provider’s stock valued at $749,000 after buying an additional 2,013 shares in the last quarter. Brooklyn Investment Group lifted its position in Nasdaq by 8.5% in the 4th quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 148 shares in the last quarter. Whitener Capital Management Inc. boosted its stake in Nasdaq by 4.2% in the 4th quarter. Whitener Capital Management Inc. now owns 11,717 shares of the financial services provider’s stock worth $906,000 after purchasing an additional 469 shares during the period. Avanza Fonder AB acquired a new position in Nasdaq in the 4th quarter worth $2,459,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Nasdaq by 325.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 24,170 shares of the financial services provider’s stock worth $1,869,000 after purchasing an additional 18,490 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

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.