Nasdaq, Inc. (NASDAQ:NDAQ) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $75.78 and last traded at $75.77, with a volume of 193,327 shares traded. The stock had previously closed at $75.25.
NDAQ has been the subject of a number of research analyst reports. BidaskClub upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Deutsche Bank AG reduced their price objective on Nasdaq from $80.00 to $79.00 and set a “buy” rating for the company in a report on Friday, April 28th. Zacks Investment Research cut Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Citigroup Inc. initiated coverage on Nasdaq in a report on Wednesday, July 12th. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Royal Bank Of Canada set a $70.00 price objective on Nasdaq and gave the stock a “hold” rating in a report on Friday, April 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $75.22.
The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 57.69 and a beta of 0.76. The stock’s 50 day moving average is $72.64 and its 200 day moving average is $70.24.
Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business had revenue of $602 million during the quarter, compared to analysts’ expectations of $596.55 million. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Nasdaq, Inc. will post $4.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. Nasdaq’s dividend payout ratio is currently 118.75%.
In other Nasdaq news, insider Edward S. Knight sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $74.39, for a total transaction of $1,115,850.00. Following the completion of the sale, the insider now directly owns 78,063 shares of the company’s stock, valued at $5,807,106.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in NDAQ. Aperio Group LLC boosted its stake in shares of Nasdaq by 2.4% in the second quarter. Aperio Group LLC now owns 95,486 shares of the financial services provider’s stock worth $6,826,000 after buying an additional 2,218 shares in the last quarter. Reliance Trust Co. of Delaware boosted its stake in shares of Nasdaq by 6.1% in the second quarter. Reliance Trust Co. of Delaware now owns 9,545 shares of the financial services provider’s stock worth $682,000 after buying an additional 552 shares in the last quarter. NGAM Advisors L.P. boosted its stake in shares of Nasdaq by 16.4% in the second quarter. NGAM Advisors L.P. now owns 231,705 shares of the financial services provider’s stock worth $16,564,000 after buying an additional 32,562 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Nasdaq by 23.4% in the second quarter. Aviance Capital Partners LLC now owns 10,094 shares of the financial services provider’s stock worth $722,000 after buying an additional 1,913 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its stake in shares of Nasdaq by 37.9% in the second quarter. LGT Capital Partners LTD. now owns 203,650 shares of the financial services provider’s stock worth $14,559,000 after buying an additional 56,010 shares in the last quarter. 75.59% of the stock is owned by institutional investors and hedge funds.
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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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