Nasdaq (NASDAQ:NDAQ) Price Target Raised to $108.00 at Raymond James

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Nasdaq (NASDAQ:NDAQ) had its price target hoisted by Raymond James from $96.00 to $108.00 in a research report released on Wednesday, The Fly reports. Raymond James currently has an outperform rating on the financial services provider’s stock.

NDAQ has been the topic of a number of other reports. UBS Group reiterated a buy rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Bank of America set a $77.00 price objective on shares of Zscaler and gave the company a neutral rating in a report on Friday, May 31st. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Wells Fargo & Co lifted their price objective on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an outperform rating in a report on Wednesday. Finally, BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Nasdaq has a consensus rating of Buy and a consensus target price of $100.70.

NASDAQ NDAQ opened at $104.28 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.49. Nasdaq has a 12-month low of $75.49 and a 12-month high of $104.61. The firm has a market capitalization of $17.28 billion, a P/E ratio of 21.68, a PEG ratio of 2.86 and a beta of 0.64. The firm has a 50 day simple moving average of $96.10.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.05. Nasdaq had a net margin of 12.67% and a return on equity of 14.60%. The company had revenue of $638.00 million for the quarter, compared to the consensus estimate of $632.71 million. During the same period last year, the company earned $1.22 earnings per share. The firm’s revenue was down 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Nasdaq will post 4.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.80%. This is an increase from Nasdaq’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, June 13th. Nasdaq’s payout ratio is presently 38.84%.

In related news, insider Bradley J. Peterson sold 1,550 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $96.65, for a total transaction of $149,807.50. Following the transaction, the insider now directly owns 21,408 shares in the company, valued at $2,069,083.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lars Wedenborn sold 1,946 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $90.36, for a total transaction of $175,840.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,715 shares of company stock worth $2,923,953. 0.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NDAQ. Flagship Harbor Advisors LLC boosted its position in Nasdaq by 2.2% during the first quarter. Flagship Harbor Advisors LLC now owns 6,412 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 137 shares during the period. State Treasurer State of Michigan boosted its position in shares of Nasdaq by 1.8% in the first quarter. State Treasurer State of Michigan now owns 33,411 shares of the financial services provider’s stock valued at $2,923,000 after acquiring an additional 600 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Nasdaq by 78.3% in the first quarter. Wealthfront Advisers LLC now owns 9,689 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 4,254 shares during the period. Cibc Bank USA bought a new stake in shares of Nasdaq in the first quarter valued at about $788,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Nasdaq by 5.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,599 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

About Nasdaq

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

Further Reading: What is the Ex-Dividend Date in Investing?

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