Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High at $65.58

Nasdaq, Inc. (NASDAQ:NDAQ)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.58 and last traded at $65.55, with a volume of 31612 shares. The stock had previously closed at $62.73.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NDAQ shares. StockNews.com downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods decreased their price target on shares of Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Edward Jones assumed coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They set a “buy” rating on the stock. Finally, Barclays lifted their price target on shares of Nasdaq from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average target price of $67.08.

Nasdaq Price Performance

The stock has a fifty day moving average of $60.72 and a 200-day moving average of $59.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $38.20 billion, a P/E ratio of 34.95, a PEG ratio of 2.91 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts predict that Nasdaq, Inc. will post 2.7 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, June 14th. Nasdaq’s payout ratio is currently 50.53%.

Insider Activity at Nasdaq

In related news, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total value of $181,826.04. Following the completion of the transaction, the executive vice president now directly owns 58,636 shares of the company’s stock, valued at $3,511,710.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nasdaq

Institutional investors have recently modified their holdings of the stock. LRI Investments LLC grew its position in shares of Nasdaq by 2,175.8% in the 2nd quarter. LRI Investments LLC now owns 751 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 718 shares during the period. Family Firm Inc. acquired a new position in shares of Nasdaq in the 2nd quarter valued at approximately $90,000. Everhart Financial Group Inc. grew its position in shares of Nasdaq by 38.7% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,950 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 1,380 shares during the period. Mcrae Capital Management Inc. grew its position in shares of Nasdaq by 1.4% in the 2nd quarter. Mcrae Capital Management Inc. now owns 302,036 shares of the financial services provider’s stock valued at $18,201,000 after purchasing an additional 4,084 shares during the period. Finally, Nicholas Company Inc. grew its position in shares of Nasdaq by 34.5% in the 2nd quarter. Nicholas Company Inc. now owns 104,500 shares of the financial services provider’s stock valued at $6,297,000 after purchasing an additional 26,820 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

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.