Intech Investment Management LLC lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 35.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,052 shares of the financial services provider’s stock after selling 19,309 shares during the period. Intech Investment Management LLC’s holdings in Nasdaq were worth $2,659,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Vestcor Inc grew its position in Nasdaq by 1.6% in the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 141 shares during the period. Sax Wealth Advisors LLC grew its position in shares of Nasdaq by 0.5% during the 1st quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider’s stock valued at $2,282,000 after acquiring an additional 144 shares during the period. Wesbanco Bank Inc. grew its position in shares of Nasdaq by 7.1% during the 1st quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 187 shares during the period. Grove Bank & Trust grew its position in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 216 shares during the period. Finally, Compass Capital Corp MA ADV grew its position in shares of Nasdaq by 1.4% during the 1st quarter. Compass Capital Corp MA ADV now owns 15,995 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 216 shares during the period. Institutional investors own 72.47% of the company’s stock.
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Nasdaq Stock Down 2.0%
Shares of NDAQ stock opened at $93.95 on Monday. The stock has a market cap of $53.91 billion, a P/E ratio of 36.13, a PEG ratio of 2.06 and a beta of 1.02. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $93.60 and its two-hundred day simple moving average is $84.21.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.
Nasdaq Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.1%. Nasdaq’s payout ratio is presently 41.54%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on NDAQ. Royal Bank Of Canada boosted their price objective on shares of Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Citigroup reissued a “neutral” rating on shares of Nasdaq in a research report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and set a $96.00 price objective (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Piper Sandler boosted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus price target of $97.06.
Read Our Latest Stock Analysis on Nasdaq
Insiders Place Their Bets
In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock worth $2,223,599 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
Nasdaq Company Profile
(Free Report)
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.
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