Nasdaq (NASDAQ:NDAQ) Given New $75.00 Price Target at Citigroup

Nasdaq (NASDAQ:NDAQ) had its target price cut by Citigroup from $84.00 to $75.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also issued reports on NDAQ. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Morgan Stanley downgraded Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a research report on Tuesday. Oppenheimer increased their target price on Nasdaq from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Nasdaq from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $98.00 in a research note on Wednesday, January 8th. Finally, Raymond James increased their price objective on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.88.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $70.30 on Tuesday. The stock has a fifty day moving average price of $77.01 and a 200 day moving average price of $77.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market cap of $40.43 billion, a PE ratio of 36.61, a P/E/G ratio of 2.12 and a beta of 1.02. Nasdaq has a 1 year low of $58.10 and a 1 year high of $84.15.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Sell-side analysts forecast that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, March 14th. Nasdaq’s payout ratio is presently 50.00%.

Insider Activity

In other news, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $73.68, for a total value of $1,102,179.12. Following the transaction, the executive vice president now directly owns 59,694 shares in the company, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the transaction, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,116 shares of company stock worth $1,434,818. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nasdaq

Several large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Nasdaq during the fourth quarter worth $26,000. Founders Capital Management acquired a new stake in shares of Nasdaq during the 4th quarter valued at about $27,000. Kestra Investment Management LLC bought a new stake in Nasdaq in the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. grew its stake in shares of Nasdaq by 106.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 225 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Nasdaq in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Company Profile

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.