Nasdaq (NASDAQ:NDAQ) Hits New 1-Year High After Analyst Upgrade

Nasdaq, Inc. (NASDAQ:NDAQ) hit a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock from $170.00 to $178.00. UBS Group currently has a buy rating on the stock. Nasdaq traded as high as $158.69 and last traded at $158.13, with a volume of 736 shares. The stock had previously closed at $157.93.

NDAQ has been the subject of a number of other research reports. Rosenblatt Securities upped their target price on Nasdaq from $146.00 to $150.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler raised their target price on shares of Nasdaq from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price target on shares of Nasdaq from $144.00 to $147.00 in a research report on Friday, January 29th. Barclays raised their price objective on shares of Nasdaq from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $145.70.

In related news, EVP Bradley J. Peterson sold 15,000 shares of Nasdaq stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $139.57, for a total transaction of $2,093,550.00. Following the transaction, the executive vice president now directly owns 51,408 shares of the company’s stock, valued at $7,175,014.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ann M. Dennison sold 2,034 shares of the firm’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $141.44, for a total value of $287,688.96. The disclosure for this sale can be found here. Insiders sold a total of 31,022 shares of company stock valued at $4,373,438 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NDAQ. Twin Tree Management LP purchased a new stake in Nasdaq in the 4th quarter valued at approximately $31,000. Jeppson Wealth Management LLC acquired a new stake in shares of Nasdaq in the third quarter valued at about $31,000. Whittier Trust Co. lifted its holdings in Nasdaq by 250.0% during the 4th quarter. Whittier Trust Co. now owns 329 shares of the financial services provider’s stock worth $44,000 after buying an additional 235 shares during the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Nasdaq in the fourth quarter valued at approximately $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Nasdaq in the 1st quarter worth $94,000. 74.23% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $26.38 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.59 and a beta of 0.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $147.17 and a 200 day moving average price of $135.64.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 27th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.45 by $0.15. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $751.65 million. Nasdaq had a return on equity of 17.15% and a net margin of 17.41%. Nasdaq’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. On average, analysts anticipate that Nasdaq, Inc. will post 6.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.22%. Nasdaq’s dividend payout ratio is currently 39.20%.

About Nasdaq (NASDAQ:NDAQ)

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates through four segments: Market Services, Corporate Platforms, Investment Intelligence, and Market Technology. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.

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