Nasdaq (NASDAQ:NDAQ) Issues Earnings Results

Nasdaq (NASDAQ:NDAQ) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06, Zacks reports. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share.

Nasdaq Price Performance

Nasdaq stock opened at $90.33 on Wednesday. The business’s 50-day simple moving average is $91.64 and its 200 day simple moving average is $86.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market cap of $51.83 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 1.98 and a beta of 0.98. Nasdaq has a 12-month low of $64.84 and a 12-month high of $97.63.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio is 41.54%.

Insider Activity

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Nasdaq by 7.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 1,653,510 shares of the financial services provider’s stock worth $148,075,000 after purchasing an additional 115,985 shares during the last quarter. Select Equity Group L.P. acquired a new position in Nasdaq in the second quarter valued at about $110,259,000. AQR Capital Management LLC lifted its stake in Nasdaq by 205.1% in the second quarter. AQR Capital Management LLC now owns 1,020,770 shares of the financial services provider’s stock valued at $91,257,000 after buying an additional 686,237 shares during the period. Man Group plc boosted its holdings in Nasdaq by 8.4% during the second quarter. Man Group plc now owns 877,297 shares of the financial services provider’s stock worth $78,448,000 after buying an additional 67,844 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Nasdaq by 12,221.5% during the 2nd quarter. Lazard Asset Management LLC now owns 814,202 shares of the financial services provider’s stock worth $72,805,000 after buying an additional 807,594 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NDAQ shares. Raymond James Financial reiterated an “outperform” rating and issued a $100.00 target price (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Morgan Stanley set a $90.00 price target on Nasdaq and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Oppenheimer reiterated an “outperform” rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $108.00 target price on shares of Nasdaq in a report on Thursday, October 9th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $97.50.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.