Nasdaq (NASDAQ:NDAQ) Price Target Raised to $113.00

Nasdaq (NASDAQ:NDAQ) had its target price upped by JPMorgan Chase & Co. from $111.00 to $113.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

NDAQ has been the topic of a number of other reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. TD Cowen boosted their target price on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Barclays set a $115.00 price target on shares of Nasdaq and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $111.00 price objective (up from $110.00) on shares of Nasdaq in a research report on Monday, December 22nd. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nasdaq currently has an average rating of “Moderate Buy” and an average target price of $103.53.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $100.07 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $92.90 and a two-hundred day moving average of $91.86. The company has a market cap of $57.14 billion, a P/E ratio of 35.74, a PEG ratio of 1.59 and a beta of 1.01. Nasdaq has a 52 week low of $64.84 and a 52 week high of $101.21.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, analysts anticipate that Nasdaq will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is currently 38.57%.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president directly owned 84,974 shares of the company’s stock, valued at $7,256,779.60. The trade was a 2.42% 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 John Zecca sold 4,500 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 306,605 shares of company stock valued at $29,546,812 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Nasdaq

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Front Row Advisors LLC bought a new stake in Nasdaq during the second quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Nasdaq in the second quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its position in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of Nasdaq during the 3rd quarter worth $27,000. Finally, Access Investment Management LLC bought a new stake in shares of Nasdaq during the 2nd quarter worth $28,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.