Key Points
- Insider sale: Nasdaq insider Cohen Tal sold 15,518 shares on April 27 at an average price of $90.75 for $1.408M, cutting his stake by 6.73% to 215,208 shares (about $19.53M).
- Earnings beat and growth: Nasdaq reported Q1 EPS of $0.96 versus $0.93 expected and revenue of $2.14B (up 13.7% year-over-year), outperforming analyst estimates.
- Dividend increase: The company raised its quarterly dividend to $0.31 (annualized $1.24), a 1.4% yield, with record date June 12 and payment on June 26.
Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) insider Cohen Tal sold 15,518 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the transaction, the insider directly owned 215,208 shares of the company's stock, valued at approximately $19,530,126. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Nasdaq Stock Performance
Nasdaq stock opened at $91.27 on Thursday. Nasdaq, Inc. has a fifty-two week low of $74.11 and a fifty-two week high of $101.79. The stock's 50 day simple moving average is $86.28 and its two-hundred day simple moving average is $89.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.00. The stock has a market cap of $51.88 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.85 and a beta of 1.02.
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 (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business's revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.
Nasdaq Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 12th. Nasdaq's dividend payout ratio is currently 37.35%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Tripletail Wealth Management LLC bought a new stake in Nasdaq during the third quarter valued at about $27,000. Westside Investment Management Inc. raised its position in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after buying an additional 159 shares in the last quarter. MV Capital Management Inc. purchased a new position in Nasdaq in the fourth quarter worth about $28,000. West Branch Capital LLC bought a new stake in Nasdaq in the third quarter worth $29,000. Finally, Salomon & Ludwin LLC bought a new stake in Nasdaq in the third quarter worth about $30,000. Institutional investors own 72.47% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NDAQ. Argus upgraded shares of Nasdaq to a "strong-buy" rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods increased their price target on shares of Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. TD Cowen raised shares of Nasdaq from a "hold" rating to a "buy" rating and lifted their price target for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Barclays boosted their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.15.
View Our Latest Research Report on NDAQ
Nasdaq Company Profile
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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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