Nasdaq, Inc. (NASDAQ:NDAQ) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06, Morningstar.com reports. The company had revenue of $602 million during the quarter, compared to the consensus estimate of $596.55 million. Nasdaq had a return on equity of 11.74% and a net margin of 5.76%. Nasdaq’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS.
Shares of Nasdaq (NASDAQ NDAQ) traded up 0.31% during mid-day trading on Friday, reaching $74.56. The company had a trading volume of 188,137 shares. The stock has a market capitalization of $12.32 billion, a P/E ratio of 86.90 and a beta of 0.76. Nasdaq has a 52-week low of $63.30 and a 52-week high of $75.23. The company’s 50-day moving average is $71.39 and its 200 day moving average is $69.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 annualized dividend and a yield of 2.04%. Nasdaq’s dividend payout ratio is currently 118.75%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nikko Asset Management Americas Inc. increased its position in Nasdaq by 64.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 8,900 shares of the financial services provider’s stock valued at $618,000 after buying an additional 3,500 shares during the last quarter. Nomura Holdings Inc. increased its position in Nasdaq by 109.8% in the first quarter. Nomura Holdings Inc. now owns 5,364 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60,176 shares during the last quarter. Ibex Wealth Advisors increased its position in Nasdaq by 4.0% in the fourth quarter. Ibex Wealth Advisors now owns 21,300 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 828 shares during the last quarter. Rothschild Asset Management Inc. increased its position in Nasdaq by 4.3% in the first quarter. Rothschild Asset Management Inc. now owns 9,442 shares of the financial services provider’s stock valued at $656,000 after buying an additional 388 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Nasdaq by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 353,390 shares of the financial services provider’s stock valued at $24,543,000 after buying an additional 10,793 shares during the last quarter. Hedge funds and other institutional investors own 75.50% of the company’s stock.
Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $76.00 price target (up from $74.00) on shares of Nasdaq in a report on Thursday. UBS AG reiterated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Nasdaq in a report on Thursday. Zacks Investment Research upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price target (up from $68.00) on shares of Nasdaq in a report on Monday, July 17th. Finally, BidaskClub downgraded Nasdaq from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nasdaq has a consensus rating of “Hold” and a consensus target price of $74.55.
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About Nasdaq
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.
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