Nasdaq (NASDAQ:NDAQ) PT Raised to $112.00

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Nasdaq (NASDAQ:NDAQ) had its price target raised by Wells Fargo & Co from $97.00 to $112.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on NDAQ. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. UBS Group reiterated a buy rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Bank of America set a $77.00 price target on Zscaler and gave the stock a neutral rating in a report on Friday, May 31st. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $100.70.

NASDAQ NDAQ opened at $104.28 on Wednesday. The stock has a market cap of $17.28 billion, a PE ratio of 21.68, a PEG ratio of 2.86 and a beta of 0.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.49. Nasdaq has a twelve month low of $75.49 and a twelve month high of $104.61. The business’s fifty day simple moving average is $96.10.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The business had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $632.71 million. Nasdaq had a return on equity of 14.60% and a net margin of 12.67%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. Analysts expect that Nasdaq will post 4.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.80%. This is a boost from Nasdaq’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, June 13th. Nasdaq’s dividend payout ratio (DPR) is 38.84%.

In related news, Director Lars Wedenborn sold 1,946 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $90.36, for a total transaction of $175,840.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley J. Peterson sold 1,550 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $96.65, for a total value of $149,807.50. Following the transaction, the insider now owns 21,408 shares of the company’s stock, valued at $2,069,083.20. The disclosure for this sale can be found here. Insiders have sold a total of 31,715 shares of company stock valued at $2,923,953 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of Nasdaq by 4.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,275 shares of the financial services provider’s stock worth $6,566,000 after acquiring an additional 3,000 shares in the last quarter. Smith Salley & Associates raised its position in shares of Nasdaq by 3.3% during the 2nd quarter. Smith Salley & Associates now owns 4,595 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 145 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Nasdaq by 6.6% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,187,584 shares of the financial services provider’s stock worth $114,210,000 after acquiring an additional 73,302 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Nasdaq by 5.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 36,422 shares of the financial services provider’s stock worth $3,503,000 after acquiring an additional 1,947 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Nasdaq by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 54,095 shares of the financial services provider’s stock worth $5,202,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

About Nasdaq

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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