Nasdaq (NASDAQ:NDAQ) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Nasdaq (NASDAQ:NDAQ) from a sell rating to a hold rating in a research report released on Wednesday.

Other research analysts have also issued reports about the company. UBS Group increased their price objective on Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Bank of America lowered their target price on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Barclays lifted their price target on shares of Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price target on shares of Nasdaq in a research report on Tuesday, November 19th. Finally, Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

Nasdaq Stock Performance

NDAQ stock opened at $82.99 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 49.69, a PEG ratio of 3.23 and a beta of 0.95. The firm has a 50-day simple moving average of $76.02 and a two-hundred day simple moving average of $68.81. Nasdaq has a one year low of $53.62 and a one year high of $83.77.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. On average, equities analysts forecast that Nasdaq will post 2.79 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is currently 57.49%.

Insider Buying and Selling

In other news, insider Pc Nelson Griggs sold 5,742 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total value of $444,086.28. Following the completion of the sale, the insider now directly owns 205,821 shares of the company’s stock, valued at $15,918,196.14. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the sale, the executive vice president now directly owns 102,505 shares in the company, valued at approximately $8,072,268.75. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,459 shares of company stock worth $3,811,808 in the last quarter. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Nasdaq

Several hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd raised its stake in shares of Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Nasdaq during the 2nd quarter worth approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in Nasdaq during the 3rd quarter valued at $27,000. Crewe Advisors LLC lifted its position in shares of Nasdaq by 164.4% in the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 314 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in shares of Nasdaq during the third quarter valued at $33,000. 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.