Piper Sandler Raises Nasdaq (NASDAQ:NDAQ) Price Target to $83.00

Nasdaq (NASDAQ:NDAQ) had its price target increased by Piper Sandler from $80.00 to $83.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Nasdaq in a research report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Morgan Stanley downgraded shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price target on the stock. in a research report on Tuesday. Oppenheimer boosted their price objective on shares of Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Barclays cut their target price on shares of Nasdaq from $95.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and a consensus price target of $85.88.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $70.30 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The firm has a market cap of $40.43 billion, a PE ratio of 36.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. Nasdaq has a 12 month low of $58.10 and a 12 month high of $84.15. The company’s 50-day moving average price is $77.01 and its two-hundred day moving average price is $77.43.

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

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, March 14th. Nasdaq’s dividend payout ratio is currently 50.00%.

Insiders Place Their Bets

In other Nasdaq news, EVP Sarah Youngwood sold 14,959 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction 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. This trade represents a 20.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the transaction, the executive vice president now owns 61,980 shares in the company, valued at approximately $4,450,783.80. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,116 shares of company stock worth $1,434,818. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Nasdaq by 8.9% during the third quarter. Janus Henderson Group PLC now owns 58,929 shares of the financial services provider’s stock valued at $4,302,000 after purchasing an additional 4,800 shares during the last quarter. Quarry LP increased its stake in shares of Nasdaq by 316.7% in the third quarter. Quarry LP now owns 871 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 662 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Nasdaq by 23.1% in the third quarter. Quantinno Capital Management LP now owns 30,329 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 5,682 shares during the period. XTX Topco Ltd purchased a new stake in shares of Nasdaq during the 3rd quarter valued at approximately $208,000. Finally, MML Investors Services LLC boosted its holdings in Nasdaq by 34.4% in the 3rd quarter. MML Investors Services LLC now owns 5,843 shares of the financial services provider’s stock worth $427,000 after buying an additional 1,494 shares during the period. 72.47% of the stock is owned by institutional investors.

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.