Nasdaq (NASDAQ:NDAQ) Price Target Raised to $97.00

Nasdaq (NASDAQ:NDAQ) had its price target upped by Barclays from $87.00 to $97.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

NDAQ has been the topic of several other research reports. The Goldman Sachs Group increased their target price on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley raised their target price on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Oppenheimer raised their price objective on Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. TD Cowen lowered their price target on Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Nasdaq in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $81.53.

Nasdaq Price Performance

Nasdaq stock opened at $81.31 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $46.73 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97. Nasdaq has a 12-month low of $53.87 and a 12-month high of $83.77. The firm has a 50-day moving average price of $77.27 and a 200-day moving average price of $69.92.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, equities research analysts forecast that Nasdaq will post 2.79 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio is currently 57.49%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 12,075 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the sale, the executive vice president now directly owns 102,505 shares in the company, valued at $8,072,268.75. This represents a 10.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.71, for a total transaction of $454,260.00. Following the transaction, the insider now directly owns 215,563 shares in the company, valued at approximately $16,320,274.73. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,459 shares of company stock valued at $3,811,808 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nasdaq

A number of institutional investors and hedge funds have recently made changes to their positions in NDAQ. Y.D. More Investments Ltd boosted its position in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Nasdaq in the 2nd quarter valued at $26,000. Catalyst Capital Advisors LLC purchased a new stake in Nasdaq in the 3rd quarter valued at $27,000. Crewe Advisors LLC boosted its stake in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares during the period. Finally, Claro Advisors LLC acquired a new position in Nasdaq in 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.