Nasdaq (NASDAQ:NDAQ) had its price objective increased by Deutsche Bank from $95.00 to $96.00 in a research report sent to investors on Friday morning. Deutsche Bank currently has a buy rating on the financial services provider’s stock.
A number of other equities analysts also recently commented on NDAQ. Wells Fargo raised their target price on shares of Nasdaq from $85.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, March 29th. BidaskClub raised shares of Nasdaq from a buy rating to a strong-buy rating in a research note on Tuesday. Zacks Investment Research raised shares of Nasdaq from a hold rating to a buy rating and set a $90.00 target price on the stock in a research note on Wednesday, January 10th. Jefferies Group reissued a hold rating and issued a $83.50 target price on shares of Nasdaq in a research note on Tuesday, January 16th. Finally, ValuEngine raised shares of Nasdaq from a hold rating to a buy rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Nasdaq presently has an average rating of Buy and an average target price of $86.32.
Shares of NDAQ stock traded down $1.11 during mid-day trading on Friday, reaching $85.20. The company’s stock had a trading volume of 919,033 shares, compared to its average volume of 925,463. Nasdaq has a 12-month low of $65.98 and a 12-month high of $87.00. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. The company has a market cap of $14,375.76, a PE ratio of 20.99, a P/E/G ratio of 1.85 and a beta of 0.64.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 14th. Nasdaq’s dividend payout ratio (DPR) is presently 37.44%.
Nasdaq announced that its board has authorized a share buyback plan on Monday, January 29th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, insider Lars Ottersgard sold 6,451 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $80.75, for a total transaction of $520,918.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley J. Peterson sold 19,169 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the sale, the insider now directly owns 32,214 shares of the company’s stock, valued at $2,599,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,837 shares of company stock valued at $3,442,932. Company insiders own 0.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delpha Capital Management LLC acquired a new position in Nasdaq during the 4th quarter worth $103,000. Delta Asset Management LLC TN grew its holdings in Nasdaq by 6,087.0% during the 4th quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 1,400 shares in the last quarter. Invictus RG acquired a new position in Nasdaq during the 3rd quarter worth $111,000. ARK Investment Management LLC acquired a new position in Nasdaq during the 4th quarter worth $122,000. Finally, Cerebellum GP LLC acquired a new position in Nasdaq during the 4th quarter worth $125,000. 76.50% of the stock is owned by institutional investors and hedge funds.
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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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