Nasdaq (NDAQ) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Nasdaq (NASDAQ:NDAQ) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
Several other equities research analysts have also issued reports on NDAQ. UBS Group reissued a buy rating and set a $89.00 price target (up from $83.00) on shares of Nasdaq in a research report on Monday, December 11th. Wells Fargo & Co reissued a market perform rating and set a $83.00 price target (up from $77.00) on shares of Nasdaq in a research report on Wednesday, January 10th. BidaskClub lowered Nasdaq from a hold rating to a sell rating in a research report on Wednesday, December 20th. Bank of America upped their price target on Nasdaq from $79.00 to $82.00 and gave the company an underperform rating in a research report on Thursday, February 1st. Finally, Jefferies Group reissued a hold rating and set a $83.50 price target on shares of Nasdaq in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Nasdaq has a consensus rating of Hold and an average price target of $82.05.
Nasdaq (NASDAQ:NDAQ) traded up $0.99 during trading on Thursday, hitting $80.59. The stock had a trading volume of 461,168 shares, compared to its average volume of 1,203,557. The stock has a market cap of $13,423.15, a PE ratio of 19.05, a P/E/G ratio of 1.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.05. Nasdaq has a 12 month low of $65.98 and a 12 month high of $83.29.
Nasdaq announced that its Board of Directors has authorized a stock buyback program on Monday, January 29th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, March 15th. Nasdaq’s dividend payout ratio is currently 35.19%.
In other Nasdaq news, Director Charlene T. Begley sold 4,017 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $81.37, for a total value of $326,863.29. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bradley J. Peterson sold 19,169 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $80.70, for a total value of $1,546,938.30. Following the completion of the sale, the insider now directly owns 32,214 shares in the company, valued at $2,599,669.80. The disclosure for this sale can be found here. Insiders sold 42,837 shares of company stock worth $3,442,932 over the last ninety days. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NDAQ. American Century Companies Inc. increased its position in Nasdaq by 303.7% in the fourth quarter. American Century Companies Inc. now owns 1,033,797 shares of the financial services provider’s stock worth $79,427,000 after buying an additional 777,702 shares during the period. Millennium Management LLC increased its position in Nasdaq by 78.0% in the fourth quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after buying an additional 685,770 shares during the period. Mackenzie Financial Corp increased its position in Nasdaq by 186.3% in the fourth quarter. Mackenzie Financial Corp now owns 983,236 shares of the financial services provider’s stock worth $75,542,000 after buying an additional 639,843 shares during the period. Two Sigma Advisers LP increased its position in Nasdaq by 321.8% in the fourth quarter. Two Sigma Advisers LP now owns 822,101 shares of the financial services provider’s stock worth $63,162,000 after buying an additional 627,200 shares during the period. Finally, Deutsche Bank AG increased its position in Nasdaq by 41.7% in the fourth quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after buying an additional 618,137 shares during the period. 76.68% of the stock is currently owned by hedge funds and other institutional investors.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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