Morgan Stanley Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $239.00

Nasdaq (NASDAQ:NDAQGet Rating) had its target price reduced by Morgan Stanley from $245.00 to $239.00 in a research report released on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts have also recently commented on NDAQ. StockNews.com raised shares of Nasdaq from a sell rating to a hold rating in a research note on Wednesday, April 13th. UBS Group lowered their price objective on shares of Nasdaq from $238.00 to $225.00 and set a buy rating for the company in a research note on Thursday, January 27th. Argus raised shares of Nasdaq from a hold rating to a buy rating and set a $200.00 price objective for the company in a research note on Monday, February 7th. The Goldman Sachs Group cut shares of Nasdaq from a neutral rating to a sell rating and set a $190.00 price objective for the company. in a research note on Tuesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nasdaq from $210.00 to $207.00 and set a buy rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of Hold and an average price target of $213.17.

Shares of Nasdaq stock opened at $166.85 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.94 and a quick ratio of 0.94. Nasdaq has a 1 year low of $156.72 and a 1 year high of $214.96. The company has a market capitalization of $27.43 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.87 and a beta of 0.90. The business has a 50 day moving average price of $174.97 and a 200 day moving average price of $189.93.

Nasdaq (NASDAQ:NDAQGet Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.02. The firm had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $892.18 million. Nasdaq had a net margin of 20.14% and a return on equity of 19.78%. Nasdaq’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. As a group, research analysts expect that Nasdaq will post 7.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.54. Nasdaq’s payout ratio is currently 30.64%.

In other news, EVP Bradley J. Peterson sold 7,500 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $163.79, for a total value of $1,228,425.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lauren B. Dillard sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $180.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in Nasdaq by 10.6% during the third quarter. Signaturefd LLC now owns 582 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 56 shares during the period. Sigma Planning Corp acquired a new stake in Nasdaq during the third quarter worth about $263,000. Commonwealth Equity Services LLC raised its stake in Nasdaq by 7.5% during the third quarter. Commonwealth Equity Services LLC now owns 13,360 shares of the financial services provider’s stock worth $2,578,000 after acquiring an additional 937 shares during the period. Janney Montgomery Scott LLC raised its stake in Nasdaq by 5.6% during the third quarter. Janney Montgomery Scott LLC now owns 3,991 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 210 shares during the period. Finally, GWM Advisors LLC raised its stake in Nasdaq by 11.9% during the third quarter. GWM Advisors LLC now owns 4,266 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

About Nasdaq (Get Rating)

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions.

Featured Stories

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

Receive News & Ratings for Nasdaq Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nasdaq and related companies with MarketBeat.com's FREE daily email newsletter.