Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High - Here's Why

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $87.81 and last traded at $87.55, with a volume of 81354 shares traded. The stock had previously closed at $86.73.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. 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 note on Thursday, April 17th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. UBS Group reaffirmed a "cautious" rating on shares of Nasdaq in a research note on Monday, April 28th. Finally, Piper Sandler boosted their price objective on Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.19.

Nasdaq Trading Up 0.7%

The company has a market cap of $50.15 billion, a PE ratio of 39.68, a P/E/G ratio of 2.22 and a beta of 1.00. The stock's 50 day moving average is $80.59 and its 200-day moving average is $78.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. Nasdaq's payout ratio is 49.09%.

Insider Activity

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider now directly owns 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the sale, the executive vice president now owns 61,980 shares of the company's stock, valued at $4,450,783.80. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Nasdaq

Institutional investors have recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 317 shares during the period. Rakuten Securities Inc. purchased a new stake in Nasdaq during the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the 1st quarter worth about $26,000. Finally, First Command Advisory Services Inc. acquired a new stake in Nasdaq in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Company Profile

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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