Nasdaq (NASDAQ:NDAQ) Given New $107.00 Price Target at TD Cowen

Nasdaq (NASDAQ:NDAQ) had its price objective cut by equities research analysts at TD Cowen from $108.00 to $107.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 13.52% from the stock’s previous close.

A number of other research analysts have also recently weighed in on NDAQ. Raymond James Financial reiterated an “outperform” rating on shares of Nasdaq in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Morgan Stanley dropped their price objective on shares of Nasdaq from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays reaffirmed an “overweight” rating and set a $109.00 price target (down from $111.00) on shares of Nasdaq in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company assumed coverage on Nasdaq in a research note on Friday, October 2nd. They set an “equal weight” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.08.

Nasdaq Price Performance

NDAQ stock traded up $0.61 during trading on Monday, reaching $94.26. 505,831 shares of the company were exchanged, compared to its average volume of 3,797,516. Nasdaq has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a market cap of $52.69 billion, a P/E ratio of 27.45, a PEG ratio of 1.67 and a beta of 0.99. The stock’s 50 day moving average price is $94.77 and its 200 day moving average price is $90.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%. Nasdaq’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, analysts predict that Nasdaq will post 4.13 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In related news, insider Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares of the company’s stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremy Skule sold 1,125 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $106,875.00. Following the sale, the executive vice president owned 100,073 shares of the company’s stock, valued at $9,506,935. The trade was a 1.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,047 shares of company stock worth $4,139,191 in the last three months. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nasdaq

Institutional investors have recently bought and sold shares of the stock. Daiichi Life Insurance Co. Ltd. acquired a new position in Nasdaq in the 2nd quarter worth approximately $1,236,000. Munich Reinsurance Co Stock Corp in Munich lifted its holdings in shares of Nasdaq by 3.0% during the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 889,447 shares of the financial services provider’s stock valued at $70,106,000 after buying an additional 25,524 shares during the last quarter. Tandem Investment Advisors Inc. acquired a new position in Nasdaq in the first quarter worth approximately $13,891,000. Lombard Odier Asset Management Europe Ltd grew its position in Nasdaq by 31.4% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 47,298 shares of the financial services provider’s stock worth $4,015,000 after acquiring an additional 11,298 shares in the last quarter. Finally, Mariner LLC increased its position in Nasdaq by 2.5% during the fourth quarter. Mariner LLC now owns 2,875,927 shares of the financial services provider’s stock worth $279,345,000 after buying an additional 71,249 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

About Nasdaq

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.