BidaskClub upgraded shares of Nasdaq (NASDAQ:NDAQ) from a hold rating to a buy rating in a research note published on Thursday morning.
NDAQ has been the topic of several other reports. ValuEngine upgraded Nasdaq from a hold rating to a buy rating in a research note on Thursday, March 1st. Deutsche Bank raised their price objective on Nasdaq from $89.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, March 6th. Wells Fargo & Co restated a market perform rating and set a $83.00 price objective (up from $77.00) on shares of Nasdaq in a research note on Wednesday, January 10th. UBS Group restated a buy rating and set a $89.00 price objective (up from $83.00) on shares of Nasdaq in a research note on Monday, December 11th. Finally, Jefferies Group restated a hold rating and set a $83.50 price objective on shares of Nasdaq in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $84.23.
Shares of Nasdaq (NASDAQ:NDAQ) traded up $1.67 during trading hours on Thursday, reaching $86.53. The company’s stock had a trading volume of 680,145 shares, compared to its average volume of 1,160,000. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. Nasdaq has a fifty-two week low of $65.98 and a fifty-two week high of $86.67. The company has a market cap of $14,410.00, a PE ratio of 22.71, a PEG ratio of 1.85 and a beta of 0.70.
Nasdaq announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 29th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders 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 1.76%. The ex-dividend date is Thursday, March 15th. Nasdaq’s dividend payout ratio is presently 39.90%.
In related news, Director Charlene T. Begley sold 4,017 shares of Nasdaq stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley J. Peterson sold 19,169 shares of Nasdaq stock in a transaction dated 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 of the company’s stock, valued at approximately $2,599,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,837 shares of company stock valued at $3,442,932. Insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NDAQ. American Century Companies Inc. increased its holdings in Nasdaq by 303.7% in the 4th quarter. American Century Companies Inc. now owns 1,033,797 shares of the financial services provider’s stock worth $79,427,000 after acquiring an additional 777,702 shares during the last quarter. Millennium Management LLC increased its holdings in Nasdaq by 78.0% in the 4th quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after acquiring an additional 685,770 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Nasdaq by 186.3% in the 4th quarter. Mackenzie Financial Corp now owns 983,236 shares of the financial services provider’s stock worth $75,542,000 after acquiring an additional 639,843 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Nasdaq by 321.8% in the 4th quarter. Two Sigma Advisers LP now owns 822,101 shares of the financial services provider’s stock worth $63,162,000 after acquiring an additional 627,200 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Nasdaq by 41.7% in the 4th quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after acquiring an additional 618,137 shares during the last quarter. 76.77% of the stock is owned by institutional investors.
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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.
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