Nasdaq (NASDAQ:NDAQ) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Nasdaq reported a quarterly EPS of $0.88, exceeding analysts' expectations of $0.82 by $0.06.
• The company declared a quarterly dividend of $0.27 per share, resulting in an annualized yield of 1.2%.
• Institutional investors hold 72.47% of Nasdaq's stock, indicating strong confidence in the company's performance.

Nasdaq (NASDAQ:NDAQ - Get Free Report) released its earnings results on Tuesday. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06, Zacks reports. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%.

Nasdaq Stock Up 0.3%

NASDAQ NDAQ opened at $88.86 on Tuesday. The stock has a 50 day moving average price of $91.76 and a 200-day moving average price of $86.62. Nasdaq has a one year low of $64.84 and a one year high of $97.63. 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 company has a market capitalization of $50.99 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.98 and a beta of 0.98.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued 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 was Friday, September 12th. Nasdaq's dividend payout ratio is 41.54%.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated 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 owned 92,551 shares in the company, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following 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 disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nasdaq

Large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider's stock worth $1,106,000 after buying an additional 538 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider's stock worth $2,652,000 after acquiring an additional 10,110 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Nasdaq by 22.0% in the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider's stock worth $1,089,000 after acquiring an additional 2,584 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $45,000 after purchasing an additional 463 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Nasdaq by 4.4% during the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 481 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NDAQ. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays reiterated an "overweight" rating and issued a $108.00 price target (down previously from $109.00) on shares of Nasdaq in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Morgan Stanley set a $90.00 target price on Nasdaq and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $108.00 target price on shares of Nasdaq in a research note on Thursday, October 9th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and an average target price 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.

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