Nasdaq Inc. (NDAQ) Price Target Raised to $74.00

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Nasdaq Inc. (NASDAQ:NDAQ) had its price objective lifted by analysts at Keefe, Bruyette & Woods from $70.00 to $74.00 in a research note issued on Thursday. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 6.52% from the stock’s current price.
A number of other research analysts have also issued reports on the stock. Evercore ISI lowered shares of Nasdaq from a “buy” rating to a “hold” rating and lowered their target price for the company from $69.00 to $68.00 in a research note on Tuesday, July 5th. Barclays PLC lowered their target price on shares of Nasdaq from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Royal Bank Of Canada raised their target price on shares of Nasdaq from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, April 13th. Raymond James Financial Inc. reiterated a “buy” rating and issued a $67.00 target price (down from $70.00) on shares of Nasdaq in a research note on Tuesday, April 12th. Finally, Jefferies Group raised their target price on shares of Nasdaq from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.67.
Nasdaq (NASDAQ:NDAQ) traded down 0.07% during midday trading on Thursday, reaching $69.47. 959,253 shares of the company traded hands. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 24.05 and a beta of 0.77. Nasdaq has a 12 month low of $49.89 and a 12 month high of $71.92. The firm’s 50 day moving average price is $70.54 and its 200 day moving average price is $66.24.

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Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The company had revenue of $559 million for the quarter, compared to analyst estimates of $548 million. During the same quarter in the prior year, the business posted $0.83 EPS. Nasdaq’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Nasdaq will post $3.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.84%. The ex-dividend date is Wednesday, September 14th. Nasdaq’s dividend payout ratio is currently 44.44%.
In related news, EVP Thomas A. Wittman sold 24,893 shares of Nasdaq stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $67.08, for a total transaction of $1,669,822.44. Following the completion of the transaction, the executive vice president now directly owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 2,945 shares of Nasdaq stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.52, for a total transaction of $210,626.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Nasdaq by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,535,832 shares of the company’s stock valued at $681,353,000 after buying an additional 407,297 shares during the last quarter. State Street Corp boosted its stake in Nasdaq by 0.7% in the first quarter. State Street Corp now owns 4,843,763 shares of the company’s stock valued at $321,526,000 after buying an additional 34,705 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Nasdaq by 1.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,318,645 shares of the company’s stock valued at $134,876,000 after buying an additional 44,308 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Nasdaq by 0.3% in the second quarter. BlackRock Fund Advisors now owns 2,019,972 shares of the company’s stock valued at $130,632,000 after buying an additional 5,199 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Nasdaq by 10.2% in the second quarter. AQR Capital Management LLC now owns 1,945,700 shares of the company’s stock valued at $125,829,000 after buying an additional 180,431 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.

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