Nasdaq (NASDAQ:NDAQ) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Nasdaq, Inc. stock reached a new 52-week high of $97.22 after an analyst upgrade from Piper Sandler, which raised the price target from $97.00 to $104.00.
• Analysts are optimistic about Nasdaq with 14 buy ratings and a consensus rating of "Moderate Buy," with new price targets set by various brokerages ranging from $104.00 to $115.00.
• The company recently declared a quarterly dividend of $0.27, representing an annualized yield of 1.1%, with a payout ratio of 41.54%.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $97.00 to $104.00. Piper Sandler currently has an overweight rating on the stock. Nasdaq traded as high as $97.22 and last traded at $96.61, with a volume of 148711 shares traded. The stock had previously closed at $96.91.

Other equities research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and raised their target price for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Thursday, April 17th. Morgan Stanley boosted their target price on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,409 shares of company stock valued at $2,887,839. Company insiders own 0.70% of the company's stock.

Institutional Trading of Nasdaq

A number of institutional investors have recently bought and sold shares of NDAQ. Nwam LLC purchased a new position in shares of Nasdaq in the second quarter worth $242,000. Vise Technologies Inc. purchased a new stake in Nasdaq during the second quarter worth $465,000. Alpha Cubed Investments LLC acquired a new stake in Nasdaq during the second quarter valued at $207,000. Allworth Financial LP increased its holdings in Nasdaq by 75.8% in the second quarter. Allworth Financial LP now owns 2,041 shares of the financial services provider's stock valued at $182,000 after buying an additional 880 shares in the last quarter. Finally, Flossbach Von Storch SE raised its position in shares of Nasdaq by 1.2% in the second quarter. Flossbach Von Storch SE now owns 1,172,990 shares of the financial services provider's stock worth $104,889,000 after acquiring an additional 14,013 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $55.34 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. The firm's 50 day moving average price is $89.40 and its 200-day moving average price is $81.75.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. Nasdaq's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. On average, research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

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.