Analysts Set Nasdaq, Inc. (NASDAQ:NDAQ) PT at $66.92

Nasdaq, Inc. (NASDAQ:NDAQ) has earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $66.92.

NDAQ has been the subject of several analyst reports. StockNews.com cut Nasdaq from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Piper Sandler increased their price target on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. UBS Group increased their price target on Nasdaq from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Oppenheimer lifted their price target on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Rosenblatt Securities reduced their price objective on shares of Nasdaq from $82.00 to $76.00 and set a “buy” rating for the company in a report on Friday, April 26th.

Nasdaq Stock Up 1.3 %

Shares of NDAQ stock opened at $60.87 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.01 and a current ratio of 0.99. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.32 and a beta of 0.94. Nasdaq has a 52-week low of $46.88 and a 52-week high of $64.25. The firm’s 50-day moving average is $60.34 and its 200-day moving average is $56.82.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.69 EPS. Nasdaq’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts predict that Nasdaq will post 2.69 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.24 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, June 14th. Nasdaq’s dividend payout ratio is currently 46.32%.

Insider Activity

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Bryan Everard Smith sold 3,036 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the sale, the executive vice president now owns 58,636 shares in the company, valued at approximately $3,511,710.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The disclosure for this sale can be found here. Insiders have sold 31,010,436 shares of company stock valued at $1,798,647,360 in the last 90 days. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NDAQ. Salem Investment Counselors Inc. raised its position in Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 201 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Nasdaq in the fourth quarter worth approximately $29,000. Loomis Sayles & Co. L P bought a new stake in shares of Nasdaq during the 3rd quarter valued at $26,000. Carmel Capital Partners LLC purchased a new stake in Nasdaq in the third quarter worth about $32,000. Finally, Allworth Financial LP lifted its holdings in Nasdaq by 74.9% during the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 349 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

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.