Nasdaq (NDAQ) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of Nasdaq (NASDAQ:NDAQ) from a buy rating to a hold rating in a research note published on Friday morning.

Several other brokerages have also issued reports on NDAQ. Zacks Investment Research lowered Nasdaq from a buy rating to a hold rating in a research note on Thursday, January 11th. Jefferies Group reaffirmed a hold rating and set a $83.50 price target on shares of Nasdaq in a research note on Tuesday, January 16th. Wells Fargo & Co reaffirmed a market perform rating and set a $83.00 price target (up previously from $77.00) on shares of Nasdaq in a research note on Wednesday, January 10th. UBS Group reaffirmed a buy rating and set a $89.00 price target (up previously from $83.00) on shares of Nasdaq in a research note on Monday, December 11th. Finally, ValuEngine raised Nasdaq from a hold rating to a buy rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Nasdaq has a consensus rating of Hold and an average price target of $81.23.

Nasdaq (NDAQ) traded up $0.24 during trading on Friday, reaching $80.07. The company’s stock had a trading volume of 675,600 shares, compared to its average volume of 914,415. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13,400.00, a price-to-earnings ratio of 53.03, a P/E/G ratio of 1.69 and a beta of 0.79. Nasdaq has a one year low of $65.98 and a one year high of $82.15.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The company had revenue of $607.00 million for the quarter, compared to analyst estimates of $599.84 million. Nasdaq had a return on equity of 12.69% and a net margin of 6.72%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. equities analysts forecast that Nasdaq will post 4.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. Nasdaq’s dividend payout ratio is presently 100.66%.

In related news, EVP Pc Nelson Griggs sold 2,064 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $76.58, for a total value of $158,061.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley J. Peterson sold 19,169 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were 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 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. Insiders sold 22,629 shares of company stock valued at $1,809,309 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS increased its holdings in shares of Nasdaq by 2.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 334,786 shares of the financial services provider’s stock worth $25,969,000 after acquiring an additional 8,695 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Nasdaq by 2.9% in the second quarter. M&T Bank Corp now owns 15,246 shares of the financial services provider’s stock worth $1,090,000 after acquiring an additional 431 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Nasdaq by 1.5% in the second quarter. TIAA CREF Investment Management LLC now owns 404,761 shares of the financial services provider’s stock worth $28,936,000 after acquiring an additional 5,861 shares in the last quarter. Sapience Investments LLC bought a new stake in shares of Nasdaq in the second quarter worth about $1,358,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Nasdaq by 8.8% in the second quarter. Ontario Teachers Pension Plan Board now owns 94,316 shares of the financial services provider’s stock worth $6,743,000 after acquiring an additional 7,656 shares in the last quarter. Institutional investors own 75.89% of the company’s stock.

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About Nasdaq

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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