Nasdaq (NASDAQ:NDAQ) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Nasdaq (NASDAQ:NDAQ) from a buy rating to a hold rating in a report released on Thursday, BidAskClub reports.

NDAQ has been the subject of several other reports. Wells Fargo & Co increased their price objective on Nasdaq from $97.00 to $112.00 and gave the company an outperform rating in a research report on Wednesday, July 10th. Citigroup cut Nasdaq from a neutral rating to a sell rating and increased their price objective for the company from $93.00 to $95.00 in a research report on Monday, July 22nd. Raymond James increased their price objective on Nasdaq from $96.00 to $108.00 and gave the company an outperform rating in a research report on Wednesday, July 10th. Bank of America reissued a neutral rating and issued a $88.00 price objective on shares of Nasdaq in a research report on Friday, May 31st. Finally, Deutsche Bank reduced their price objective on Nasdaq from $113.00 to $110.00 and set a buy rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $102.44.

NDAQ opened at $99.52 on Thursday. Nasdaq has a 1-year low of $75.49 and a 1-year high of $105.26. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.94 and a beta of 0.65. The business has a 50 day moving average of $98.62 and a 200-day moving average of $93.82.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. Nasdaq had a return on equity of 14.68% and a net margin of 12.86%. The company had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $629.06 million. During the same period in the prior year, the business earned $1.18 earnings per share. Nasdaq’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Nasdaq will post 4.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.88 annualized dividend and a yield of 1.89%. Nasdaq’s dividend payout ratio is currently 38.84%.

In other Nasdaq news, insider Ann M. Dennison sold 5,496 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $96.55, for a total transaction of $530,638.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lars Ottersgard sold 4,861 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $99.14, for a total value of $481,919.54. The disclosure for this sale can be found here. Insiders have sold 11,801 shares of company stock valued at $1,158,532 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Doyle Wealth Management acquired a new stake in shares of Nasdaq in the second quarter valued at $62,000. Pittenger & Anderson Inc. acquired a new stake in shares of Nasdaq in the first quarter valued at $66,000. Benjamin Edwards Inc. increased its stake in shares of Nasdaq by 28.7% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the financial services provider’s stock valued at $85,000 after buying an additional 197 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Nasdaq in the first quarter valued at $96,000. Finally, NuWave Investment Management LLC increased its stake in shares of Nasdaq by 301.3% in the second quarter. NuWave Investment Management LLC now owns 1,224 shares of the financial services provider’s stock valued at $118,000 after buying an additional 919 shares in the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.

Nasdaq Company Profile

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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Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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