Zacks Investment Research Upgrades Nasdaq, Inc. (NDAQ) to Hold

Zacks Investment Research upgraded shares of Nasdaq, Inc. (NASDAQ:NDAQ) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. It displays prudence by accelerating its non-transaction revenue base. It realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well. It had identified $10-$20 million in additional cost synergies and expects to deploy capital in de-leveraging over the next four quarters, investing in growth initiatives and engaging in shareholders friendly moves. However, its elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. Shares of Nasdaq have underperformed the industry, year to date. A Zacks Rank #3 combined with Earnings ESP of 0.66% makes us reasonably confident of an earnings beat.”

Several other analysts have also weighed in on NDAQ. BidaskClub lowered Nasdaq from a hold rating to a sell rating in a report on Friday, June 23rd. Citigroup Inc. initiated coverage on Nasdaq in a report on Wednesday, July 12th. They set a neutral rating and a $72.00 price objective on the stock. Jefferies Group LLC reissued a hold rating and set a $71.00 price objective (up previously from $68.00) on shares of Nasdaq in a report on Monday, July 17th. Royal Bank Of Canada set a $74.00 price objective on Nasdaq and gave the stock a hold rating in a report on Monday, July 17th. Finally, UBS AG reissued a buy rating and set a $85.00 price objective (up previously from $80.00) on shares of Nasdaq in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $77.50.

Shares of Nasdaq (NASDAQ:NDAQ) traded down 0.03% during trading on Tuesday, reaching $72.92. The company had a trading volume of 1,934,448 shares. Nasdaq has a 12 month low of $63.30 and a 12 month high of $78.31. The stock has a 50 day moving average price of $75.42 and a 200 day moving average price of $72.14. The firm has a market capitalization of $12.16 billion, a PE ratio of 55.41 and a beta of 0.77.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.06. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The company had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.55 million. During the same quarter last year, the firm earned $0.91 EPS. Nasdaq’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Nasdaq will post $4.16 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.08%. The ex-dividend date was Thursday, September 14th. Nasdaq’s dividend payout ratio is 118.75%.

In related news, insider Ann M. Dennison sold 1,170 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $76.32, for a total value of $89,294.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Edward S. Knight sold 15,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the completion of the sale, the insider now directly owns 78,063 shares in the company, valued at approximately $5,807,106.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,844 shares of company stock worth $2,788,100. 1.60% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Advisor Partners LLC acquired a new position in Nasdaq in the second quarter worth $214,000. Nikko Asset Management Americas Inc. boosted its stake in Nasdaq by 1,325.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock worth $9,072,000 after purchasing an additional 118,000 shares in the last quarter. Commerce Bank boosted its stake in Nasdaq by 1.9% in the second quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock worth $20,292,000 after purchasing an additional 5,401 shares in the last quarter. Summit Securities Group LLC acquired a new position in Nasdaq in the second quarter worth $645,000. Finally, GAM Holding AG boosted its stake in Nasdaq by 0.7% in the second quarter. GAM Holding AG now owns 28,766 shares of the financial services provider’s stock worth $2,056,000 after purchasing an additional 200 shares in the last quarter. 74.44% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.

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Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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