Nasdaq (NASDAQ:NDAQ) Stock Rated Buy in New Coverage at Erste Group Bank

Stock analysts at Erste Group Bank initiated coverage on shares of Nasdaq (NASDAQ:NDAQ) in a report released on Friday, Briefing.com reports. The brokerage set a “buy” rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on NDAQ. Jefferies Financial Group restated a “hold” rating on shares of Nasdaq in a research note on Thursday, October 22nd. Zacks Research cut shares of Nasdaq from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Bank of America lowered their target price on Nasdaq from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. The Goldman Sachs Group raised their price objective on Nasdaq from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $118.00 price objective on shares of Nasdaq in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.53.

Nasdaq Trading Up 0.0%

NASDAQ NDAQ opened at $105.60 on Friday. Nasdaq has a twelve month low of $76.55 and a twelve month high of $107.93. The firm has a market capitalization of $58.60 billion, a PE ratio of 28.85, a P/E/G ratio of 1.85 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $95.54 and its 200 day moving average is $90.65.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $1.47 billion. Nasdaq had a return on equity of 19.03% and a net margin of 22.81%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Research analysts forecast that Nasdaq will post 4.15 earnings per share for the current fiscal year.

Insider Transactions at Nasdaq

In related news, EVP Jeremy Skule sold 1,125 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $95.00, for a total transaction of $106,875.00. Following the completion of the transaction, the executive vice president owned 96,561 shares of the company’s stock, valued at approximately $9,173,295. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tal Cohen sold 10,390 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $103.34, for a total value of $1,073,702.60. Following the sale, the insider directly owned 205,076 shares in the company, valued at $21,192,553.84. This represents a 4.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,877 shares of company stock valued at $2,330,505 over the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Trading of Nasdaq

Institutional investors and hedge funds have recently made changes to their positions in the company. Fiduciary Financial Advisors acquired a new position in Nasdaq in the second quarter valued at $25,000. Eastern Bank lifted its holdings in Nasdaq by 168.0% in the third quarter. Eastern Bank now owns 268 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 168 shares during the period. Compass Wealth Management LLC acquired a new position in Nasdaq during the third quarter worth about $29,000. Center for Financial Planning Inc. acquired a new position in Nasdaq during the third quarter worth $32,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Nasdaq in the 2nd quarter worth about $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

About Nasdaq

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world’s largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq’s Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.