Nasdaq, Inc. (NASDAQ:NDAQ) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish view: Eleven brokerages give Nasdaq a consensus “Buy” rating, including eight buys and two strong buys. The average 12-month price target is $110.30, above the reported $99.35 share price.
• Quarterly results exceeded expectations: Nasdaq reported adjusted EPS of $1.07 versus the $0.98 consensus estimate, while revenue rose 14.9% year over year to $2.53 billion.
• Nasdaq declared a quarterly dividend: The company will pay $0.31 per share on September 25 to shareholders of record as of September 11, representing a $1.24 annualized dividend and a 1.2% yield.

Shares of Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) have been given an average rating of "Buy" by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $110.30.

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research note on Sunday, May 3rd. Zacks Research raised Nasdaq from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Barclays restated an "overweight" rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. TD Cowen reaffirmed a "buy" rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th.

Nasdaq Trading Down 0.1%

NDAQ stock opened at $99.35 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq has a twelve month low of $76.55 and a twelve month high of $101.79. The stock has a market capitalization of $55.53 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. The firm's fifty day simple moving average is $90.86 and its two-hundred day simple moving average is $88.33.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business's revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. As a group, analysts anticipate that Nasdaq will post 4.15 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq's dividend payout ratio is presently 36.15%.

Insider Buying and Selling

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ab Investor bought 56,782 shares of the company's stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 41,797 shares of company stock valued at $3,926,319 in the last 90 days. Company insiders own 0.60% of the company's stock.

Institutional Trading of Nasdaq

Several institutional investors and hedge funds have recently modified their holdings of NDAQ. California State Teachers Retirement System increased its holdings in Nasdaq by 7,824.5% during the 2nd quarter. California State Teachers Retirement System now owns 51,567,827 shares of the financial services provider's stock worth $4,064,576,000 after purchasing an additional 50,917,084 shares during the period. BlackRock Inc. purchased a new stake in shares of Nasdaq in the 2nd quarter worth $2,931,637,000. Bank of America Corp DE purchased a new stake in shares of Nasdaq in the 2nd quarter worth $603,631,000. Norges Bank purchased a new stake in shares of Nasdaq in the 4th quarter worth $530,100,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Nasdaq during the 2nd quarter worth $377,818,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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