Nasdaq (NASDAQ:NDAQ) Price Target Raised to $80.00 at Oppenheimer

Nasdaq (NASDAQ:NDAQ) had its price target hoisted by Oppenheimer from $78.00 to $80.00 in a report published on Monday morning, Marketbeat reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research firms have also commented on NDAQ. Barclays upped their target price on Nasdaq from $74.00 to $77.00 and gave the company an overweight rating in a research note on Friday, July 26th. Bank of America raised Nasdaq from an underperform rating to a buy rating and boosted their price target for the company from $53.00 to $90.00 in a research report on Wednesday, September 4th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $76.00 to $78.00 and gave the company an outperform rating in a research report on Friday, July 26th. Argus boosted their price target on Nasdaq from $64.00 to $66.00 and gave the company a buy rating in a research report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $66.00 to $72.00 and gave the company a hold rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $72.08.

Nasdaq Stock Performance

Nasdaq stock opened at $72.57 on Monday. The firm has a market capitalization of $41.74 billion, a P/E ratio of 38.19, a PEG ratio of 2.94 and a beta of 0.95. The stock has a fifty day moving average price of $67.64 and a 200 day moving average price of $62.84. Nasdaq has a 52 week low of $46.88 and a 52 week high of $74.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that Nasdaq will post 2.74 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, September 13th. Nasdaq’s dividend payout ratio is currently 50.53%.

Insider Activity at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NDAQ. Thoma Bravo L.P. purchased a new position in Nasdaq in the fourth quarter valued at about $4,166,454,000. Norges Bank acquired a new stake in Nasdaq during the fourth quarter valued at approximately $239,347,000. Vanguard Group Inc. raised its stake in Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after buying an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC raised its stake in Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after buying an additional 1,866,219 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC acquired a new stake in Nasdaq during the fourth quarter valued at approximately $96,241,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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.