Why Has RBC Capital Mkts Given NASDAQ (NASDAQ:NDAQ) a $69 Price Target
RBC Capital Mkts has just issued a Outperform rating for NASDAQ (NASDAQ:NDAQ) shares. The firm commenced coverage coverage on shares of NDAQ in analysts note announced on Wednesday morning. This PT could mean upside of 19.13% from the current stock price of NASDAQ (NASDAQ:NDAQ).
From a total of 13 analysts covering NASDAQ OMX Group (NASDAQ:NDAQ) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 6 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $69 while the lowest target price is $47. The mean of all analyst targets is $61.15 with a 4.63% above today’s ($57.92) stock price. NASDAQ OMX Group was the topic of 10 analyst reports since August 9, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on October 23 with “Buy” rating. Standpoint Research maintained NDAQ stock in a recent report from August 9 with “Hold” rating.
The stock closed the day at $57.92 during the previous session. It is down 18.28% since May 6, 2015 and is uptrending. It has outperformed by 19.07% the S&P500.
The overall sentiment of institutions has decreased to 1.05 in Q2 2015. Its down 0.02, from 1.07 in 2015Q2. The ratio fall, as 47 institutions have sold all the shares of Nasdaq Inc that they owned while 120 funds have taken shares off the table. 40 funds have purchased shares for the first time while 136 added to their positions. These institutions now hold 112.84 million shares or 9.90% less than the 125.24 million shares they owned in 2015Q2.
The Fund Investor Ab currently is holding shares equating to 92% of its total portfolio in Nasdaq Inc representing a total of 19.39 million shares. Another fund,Robertson Opportunity Capital Llc, is holding a total of 84,313 shares equating to 4.73% of their holdings. Additionally, Hollow Brook Wealth Management Llc has a 177,955 share stake in Nasdaq Inc which represents 4.53% of their total portfolio. The Fund, Lyrical Asset Management Lp, based out of New York, has also built up a stake in the stock, which represents a total of 3.74% of their total portfolio. Finally Cookson Peirce & Co Inc, a fund which is based in the state of Pennsylvania reported a total holdings of 274,450 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 3, 2015, shareholders of Nasdaq Inc have witnessed 0 insider buys, and a total of 5 insider sales equating to a net activity of approximately $3.92 million . Shavel Lee sold 10,231 shares worth approximately $543,266. Jochumsen Hans-Ole sold 26,706 shares worth approximately $1.41 million. Knight Edward S sold 14,062 shares worth approximately $715,896. Ewing Anna M sold 15,000 shares worth approximately $752,550. The company insider Griggs Pc Nelson sold 5,000 shares worth $256,050.
Nasdaq Inc , formerly The NASDAQ OMX Group, Inc., is a holding company. The company has a market cap of $9.51 billion. The Firm is a well-known provider of trading, clearing, exchange technology, regulatory, securities listing, information and public firm services across six continents. It has 27.14 P/E ratio. The Firm manages, operates and provides its services and products in four divisions: Market Services, Listing Services, Information Services and Technology Solutions.
According to Zacks Investment Research, “Nasdaq, Inc. is a holding company which provides trading, clearing, exchange technology, regulatory, securities listing, information and public company services. The Company’s operating segments consists of Market Services, Listing Services, Information Services and Technology Solutions. Market Services segment provides equity derivative trading and clearing, cash equity trading, fixed income, currency and commodities trading and clearing, and access and broker services businesses. Information Services segment provides Data Products and Index Licensing and Services businesses. Technology Solutions segment provides Corporate Solutions and Market Technology businesses. Nasdaq, Inc., formerly known as The NASDAQ OMX Group, Inc., is headquartered in New York.” Get a free copy of the Zacks research report on Nasdaq Inc (NDAQ).