Nasdaq (NASDAQ:NDAQ) Given New $93.00 Price Target at Morgan Stanley

Nasdaq (NASDAQ:NDAQ) had its price target boosted by Morgan Stanley from $92.00 to $93.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on NDAQ. Raymond James upgraded shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price for the company in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler increased their target price on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Bank of America reduced their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and an average price target of $79.47.

Nasdaq Trading Down 0.7 %

NASDAQ:NDAQ opened at $74.69 on Friday. Nasdaq has a 12 month low of $47.56 and a 12 month high of $75.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $72.56 and its 200 day moving average is $65.68. The stock has a market capitalization of $43.02 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Sell-side analysts expect that Nasdaq will post 2.75 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s payout ratio is 55.17%.

Insiders Place Their Bets

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 directly owns 42,804,207 shares in the company, valued at $2,764,295,688.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Nasdaq by 7.0% during the 1st 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 position in shares of Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after purchasing an additional 1,866,219 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Nasdaq by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock valued at $287,270,000 after purchasing an additional 94,122 shares during the last quarter. Bessemer Group Inc. increased its stake in Nasdaq by 26.5% during the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock valued at $181,609,000 after purchasing an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Nasdaq by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock worth $147,272,000 after buying an additional 82,606 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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.