Nasdaq (NDAQ) Cut to “Hold” at BidaskClub

Nasdaq (NASDAQ:NDAQ) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts also recently issued reports on NDAQ. Bank of America downgraded shares of Nasdaq from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $77.00 to $75.00 in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 price target on shares of Nasdaq in a research report on Thursday, October 12th. Royal Bank of Canada set a $78.00 price target on shares of Nasdaq and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Citigroup raised their price target on shares of Nasdaq from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Nasdaq currently has an average rating of “Hold” and an average price target of $81.23.

Nasdaq (NASDAQ:NDAQ) opened at $79.83 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.15. Nasdaq has a 52-week low of $65.98 and a 52-week high of $82.15. The stock has a market cap of $13,320.00, a PE ratio of 52.87, a PEG ratio of 1.74 and a beta of 0.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.04. Nasdaq had a net margin of 6.72% and a return on equity of 12.69%. The company had revenue of $607.00 million for the quarter, compared to the consensus estimate of $599.84 million. During the same period last year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. research analysts anticipate that Nasdaq will post 4.19 earnings per share for the current year.

In related news, insider Pc Nelson Griggs sold 1,396 shares of Nasdaq stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.72, for a total value of $104,309.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradley J. Peterson sold 19,169 shares of Nasdaq stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the completion of the sale, the insider now owns 32,214 shares in the company, valued at $2,599,669.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,629 shares of company stock worth $1,809,309. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NDAQ. Sterling Capital Management LLC bought a new stake in Nasdaq in the 2nd quarter valued at about $40,996,000. Ardevora Asset Management LLP bought a new stake in shares of Nasdaq during the 3rd quarter worth about $35,504,000. American Century Companies Inc. bought a new stake in shares of Nasdaq during the 3rd quarter worth about $19,865,000. Perpetual Ltd raised its position in shares of Nasdaq by 132.4% during the 2nd quarter. Perpetual Ltd now owns 437,421 shares of the financial services provider’s stock worth $31,271,000 after buying an additional 249,201 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Nasdaq by 628.6% during the 4th quarter. Bank of Montreal Can now owns 270,150 shares of the financial services provider’s stock worth $20,755,000 after buying an additional 233,073 shares in the last quarter. Hedge funds and other institutional investors own 75.97% of the company’s stock.

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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.

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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