Nasdaq (NASDAQ:NDAQ – Free Report) had its price target raised by UBS Group from $79.00 to $89.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.
NDAQ has been the topic of several other research reports. Oppenheimer raised their target price on shares of Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on Nasdaq from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Barclays dropped their price objective on Nasdaq from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.88.
Read Our Latest Stock Analysis on Nasdaq
Nasdaq Stock Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.91% and a net margin of 15.10%. On average, research analysts anticipate that Nasdaq will post 3.16 earnings per share for the current fiscal year.
Nasdaq Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq’s payout ratio is currently 50.00%.
Insider Transactions at Nasdaq
In other news, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the transaction, the executive vice president now directly owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pc Nelson Griggs sold 5,742 shares of Nasdaq stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total transaction of $444,086.28. Following the sale, the insider now directly owns 205,821 shares of the company’s stock, valued at $15,918,196.14. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,817 shares of company stock valued at $2,330,033 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
Institutional Investors Weigh In On Nasdaq
A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Nasdaq by 163.3% in the 3rd quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock valued at $2,835,235,000 after purchasing an additional 24,084,154 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Nasdaq by 13,532.3% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock valued at $292,040,000 after acquiring an additional 3,970,658 shares during the period. State Street Corp grew its stake in shares of Nasdaq by 11.2% in the third quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock valued at $1,310,653,000 after acquiring an additional 1,811,616 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Nasdaq during the fourth quarter worth about $110,867,000. Finally, Harris Associates L P raised its stake in Nasdaq by 14.6% in the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after purchasing an additional 1,096,090 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.
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.
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