Nasdaq (NDAQ) Hits New 12-Month High and Low at $91.21

Nasdaq Inc (NASDAQ:NDAQ)’s share price reached a new 52-week high and low during trading on Monday . The stock traded as low as $91.21 and last traded at $90.73, with a volume of 23749 shares trading hands. The stock had previously closed at $91.10.

Several equities analysts have commented on NDAQ shares. Wells Fargo upgraded Nasdaq from a “market perform” rating to an “outperform” rating and increased their target price for the company from $83.00 to $85.00 in a research report on Monday, February 12th. Deutsche Bank increased their target price on Nasdaq from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, April 6th. Zacks Investment Research upgraded Nasdaq from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Friday, April 6th. UBS reiterated a “buy” rating and issued a $100.00 target price (up from $97.00) on shares of Nasdaq in a research report on Tuesday, March 6th. Finally, Bank of America upgraded Nasdaq from an “underperform” rating to a “neutral” rating and increased their target price for the company from $65.98 to $90.00 in a research report on Thursday, April 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Nasdaq currently has an average rating of “Hold” and a consensus price target of $88.27.

The company has a market cap of $15.09 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.91 and a beta of 0.66. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $735.00 million during the quarter, compared to analysts’ expectations of $649.55 million. Nasdaq had a return on equity of 12.93% and a net margin of 17.88%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. equities research analysts anticipate that Nasdaq Inc will post 4.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a $0.44 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 14th. This represents a $1.76 annualized dividend and a dividend yield of 1.96%. Nasdaq’s dividend payout ratio is presently 37.44%.

Nasdaq announced that its board has approved a stock repurchase program on Monday, January 29th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Edward S. Knight sold 13,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the completion of the sale, the insider now owns 73,569 shares of the company’s stock, valued at $5,842,114.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $89.42, for a total value of $178,840.00. The disclosure for this sale can be found here. Insiders have sold 42,858 shares of company stock valued at $3,666,558 in the last ninety days. 0.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in Nasdaq by 41.7% during the fourth quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after purchasing an additional 618,137 shares during the period. Millennium Management LLC grew its stake in Nasdaq by 78.0% during the fourth quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after purchasing an additional 685,770 shares during the period. BT Investment Management Ltd grew its stake in Nasdaq by 3.2% during the fourth quarter. BT Investment Management Ltd now owns 1,411,226 shares of the financial services provider’s stock worth $108,424,000 after purchasing an additional 43,250 shares during the period. Geode Capital Management LLC grew its stake in Nasdaq by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,337,143 shares of the financial services provider’s stock worth $102,535,000 after purchasing an additional 49,198 shares during the period. Finally, Frontier Capital Management Co. LLC grew its stake in Nasdaq by 2.1% during the first quarter. Frontier Capital Management Co. LLC now owns 1,207,725 shares of the financial services provider’s stock worth $104,130,000 after purchasing an additional 24,649 shares during the period. 75.57% of the stock is owned by institutional investors and hedge funds.

Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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