Key Points
- Insider sale: Nasdaq SVP Michelle Lynn Daly sold 1,323 shares on April 24 at an average of $88.82 for $117,508.86, reducing her stake by 11.59% to 10,089 shares valued at about $896,105.
- Earnings beat: Nasdaq reported Q1 EPS of $0.96 vs. $0.93 expected and revenue of $2.14 billion (up 13.7% year-over-year), outperforming consensus estimates.
- Dividend and outlook: Nasdaq raised its quarterly dividend to $0.31 (annualized $1.24, ~1.4% yield) while analysts hold a consensus "Moderate Buy" rating with a $107.15 price target.
Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) SVP Michelle Lynn Daly sold 1,323 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares of the company's stock, valued at $896,104.98. This represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Nasdaq Stock Up 1.0%
Shares of Nasdaq stock opened at $91.31 on Wednesday. The business's fifty day moving average price is $86.09 and its two-hundred day moving average price is $89.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.01. The company has a market capitalization of $51.90 billion, a P/E ratio of 27.50, a PEG ratio of 1.85 and a beta of 1.02. Nasdaq, Inc. has a 1-year low of $74.11 and a 1-year high of $101.79.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, research analysts forecast that Nasdaq, Inc. will post 3.86 EPS for the current year.
Nasdaq Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio (DPR) is presently 37.35%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on NDAQ shares. Wall Street Zen downgraded Nasdaq from a "hold" rating to a "sell" rating in a research note on Saturday. Morgan Stanley set a $116.00 target price on Nasdaq and gave the company an "overweight" rating in a research note on Friday, January 30th. UBS Group reaffirmed a "buy" rating and set a $120.00 target price (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Barclays lifted their target price on Nasdaq from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and lifted their target price for the company from $105.00 to $106.00 in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $107.15.
Read Our Latest Stock Report on NDAQ
Institutional Trading of Nasdaq
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider's stock valued at $5,819,727,000 after buying an additional 268,481 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider's stock valued at $2,683,485,000 after buying an additional 1,258,964 shares during the period. State Street Corp lifted its holdings in shares of Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider's stock valued at $1,930,808,000 after buying an additional 259,408 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock valued at $1,243,807,000 after buying an additional 378,577 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Nasdaq by 62.6% in the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after buying an additional 3,567,843 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.
Nasdaq Company Profile
(
Get Free Report)
Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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