Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High After Earnings Beat

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $94.81 and last traded at $94.76, with a volume of 2050074 shares. The stock had previously closed at $88.28.

The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. During the same quarter last year, the company posted $0.69 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.14%. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NDAQ. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Redburn Atlantic upgraded 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. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Citigroup restated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.63.

Insider Activity at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the transaction, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the transaction, the insider directly owned 211,405 shares of the company's stock, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,613 shares of company stock worth $1,874,659 in the last 90 days. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in shares of Nasdaq by 35.9% in the 2nd quarter. US Bancorp DE now owns 64,153 shares of the financial services provider's stock valued at $5,737,000 after buying an additional 16,950 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Nasdaq by 10.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 22,720 shares of the financial services provider's stock valued at $2,032,000 after buying an additional 2,160 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Nasdaq by 4.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 20,044 shares of the financial services provider's stock worth $1,792,000 after purchasing an additional 790 shares during the last quarter. Raub Brock Capital Management LP bought a new position in shares of Nasdaq in the 2nd quarter worth $14,134,000. Finally, Mirova US LLC bought a new position in shares of Nasdaq in the 2nd quarter worth $5,804,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $54.62 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a 50-day moving average price of $86.23 and a 200-day moving average price of $80.30.

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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