Nasdaq, Inc. (NASDAQ:NDAQ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. It displays prudence by accelerating its non-transaction revenue base. It realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well. It had identified $10-$20 million in additional cost synergies and expects to deploy capital in de-leveraging over the next four quarters, investing in growth initiatives and engaging in shareholders friendly moves. However, its elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. Shares of Nasdaq have underperformed the industry, year to date. A Zacks Rank #3 combined with Earnings ESP of 0.66% makes us reasonably confident of an earnings beat.”
Other research analysts have also recently issued research reports about the stock. UBS AG restated a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Nasdaq in a report on Thursday, July 27th. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Keefe, Bruyette & Woods set a $76.00 target price on shares of Nasdaq and gave the company a “hold” rating in a report on Thursday, August 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $76.00 price target on shares of Nasdaq in a research note on Monday, September 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $71.00 price target (up previously from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.50.
Nasdaq (NASDAQ:NDAQ) traded up 0.86% on Tuesday, hitting $74.75. 567,349 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $75.64 and its 200-day moving average price is $72.02. Nasdaq has a 12-month low of $63.30 and a 12-month high of $78.31. The company has a market cap of $12.47 billion, a PE ratio of 56.80 and a beta of 0.77.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. During the same quarter in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts forecast that Nasdaq will post $4.16 earnings per share for the current year.
In other Nasdaq news, Director Lars Wedenborn sold 3,045 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.13, for a total transaction of $231,815.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward S. Knight sold 14,629 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $76.74, for a total transaction of $1,122,629.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,844 shares of company stock valued at $2,788,100. 1.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Perpetual Ltd raised its position in Nasdaq by 132.4% during the 2nd quarter. Perpetual Ltd now owns 437,421 shares of the financial services provider’s stock worth $31,271,000 after buying an additional 249,201 shares during the last quarter. Sentry Investment Management LLC raised its position in Nasdaq by 3.8% during the 2nd quarter. Sentry Investment Management LLC now owns 7,500 shares of the financial services provider’s stock worth $536,000 after buying an additional 274 shares during the last quarter. Toronto Dominion Bank raised its position in Nasdaq by 24.4% during the 2nd quarter. Toronto Dominion Bank now owns 38,632 shares of the financial services provider’s stock worth $2,762,000 after buying an additional 7,578 shares during the last quarter. Advisory Services Network LLC raised its position in Nasdaq by 10.9% during the 2nd quarter. Advisory Services Network LLC now owns 3,026 shares of the financial services provider’s stock worth $216,000 after buying an additional 298 shares during the last quarter. Finally, Sterling Capital Management LLC purchased a new position in Nasdaq during the 2nd quarter worth $40,996,000. Institutional investors own 74.44% of the company’s stock.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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