Nasdaq (NASDAQ:NDAQ) Receives "Outperform" Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Nasdaq (NASDAQ:NDAQ - Free Report) in a research note published on Tuesday, Marketbeat.com reports. They currently have a $101.00 price target on the financial services provider's stock, up from their previous price target of $96.00.

NDAQ has been the topic of several other research reports. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Piper Sandler reiterated an "overweight" rating and issued a $97.00 target price (up previously from $83.00) on shares of Nasdaq in a research report on Tuesday. Barclays lifted their target price on shares of Nasdaq from $84.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Morgan Stanley boosted their price target on shares of Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.63.

Nasdaq Stock Performance

NDAQ traded up $0.61 on Tuesday, reaching $89.04. The stock had a trading volume of 2,139,570 shares, compared to its average volume of 3,081,397. Nasdaq has a 12-month low of $62.21 and a 12-month high of $90.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The business's 50-day moving average price is $85.49 and its two-hundred day moving average price is $79.96. The company has a market cap of $51.12 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.01.

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

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.21%. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, June 13th. Nasdaq's payout ratio is presently 49.09%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. The trade was 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 Jeremy Skule sold 2,105 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the completion of the sale, the executive vice president directly owned 94,656 shares in the company, valued at $8,440,475.52. This trade represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,613 shares of company stock worth $1,874,659 in the last ninety days. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds have recently added to or reduced their stakes in NDAQ. Norges Bank acquired a new stake in Nasdaq during the 4th quarter worth approximately $424,285,000. Nuveen LLC acquired a new stake in Nasdaq during the 1st quarter worth approximately $241,614,000. Ameriprise Financial Inc. lifted its holdings in Nasdaq by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after buying an additional 1,650,201 shares in the last quarter. Invesco Ltd. lifted its holdings in Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock worth $416,795,000 after buying an additional 1,592,057 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider's stock worth $802,401,000 after buying an additional 1,225,672 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

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.