Nasdaq (NASDAQ:NDAQ) Rating Increased to Outperform at Raymond James

by · The Markets Daily

Raymond James upgraded shares of Nasdaq (NASDAQ:NDAQ – Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Monday, Marketbeat reports. Raymond James currently has $82.00 price target on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on NDAQ. Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. TD Cowen initiated coverage on shares of Nasdaq in a research note on Thursday, September 26th. They set a “hold” rating and a $83.00 price objective for the company. Bank of America dropped their price objective on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Piper Sandler raised their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, UBS Group raised their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.06.

Check Out Our Latest Stock Analysis on NDAQ

Nasdaq Trading Up 0.5 %

Shares of Nasdaq stock opened at $74.14 on Monday. Nasdaq has a 12-month low of $47.56 and a 12-month high of $74.88. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock has a market cap of $42.65 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The company has a 50-day moving average of $71.89 and a two-hundred day moving average of $65.15.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, research analysts anticipate that Nasdaq will post 2.75 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares in the company, valued at $2,764,295,688.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nasdaq

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Nasdaq by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after acquiring an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Nasdaq by 28.4% during the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after acquiring an additional 1,866,219 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Nasdaq by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock valued at $287,270,000 after acquiring an additional 94,122 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Nasdaq by 26.5% during the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock valued at $181,609,000 after acquiring an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nasdaq by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock valued at $147,272,000 after acquiring an additional 82,606 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Company Profile

(Get Free Report)

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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