Eagle Asset Management Inc. decreased its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 1.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 66,286 shares of the financial services provider’s stock after selling 737 shares during the period. Eagle Asset Management Inc.’s holdings in Nasdaq were worth $5,715,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG boosted its holdings in shares of Nasdaq by 41.7% during the 4th quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after buying an additional 618,137 shares during the period. Millennium Management LLC boosted its holdings in shares of Nasdaq by 78.0% during the 4th quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after buying an additional 685,770 shares during the period. BT Investment Management Ltd boosted its holdings in shares of Nasdaq by 3.2% during the 4th quarter. BT Investment Management Ltd now owns 1,411,226 shares of the financial services provider’s stock worth $108,424,000 after buying an additional 43,250 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Nasdaq by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,337,143 shares of the financial services provider’s stock worth $102,535,000 after buying an additional 49,198 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Nasdaq by 2.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,207,725 shares of the financial services provider’s stock worth $104,130,000 after buying an additional 24,649 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.
NDAQ has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Nasdaq from $87.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. BidaskClub upgraded shares of Nasdaq from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 3rd. Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $65.98 to $90.00 in a research note on Thursday, April 26th. Deutsche Bank lifted their price objective on shares of Nasdaq from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, April 6th. Finally, ValuEngine upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.27.
Shares of Nasdaq opened at $92.78 on Friday, MarketBeat reports. The company has a market capitalization of $15.34 billion, a PE ratio of 22.85, a PEG ratio of 1.94 and a beta of 0.66. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Nasdaq Inc has a 12 month low of $67.20 and a 12 month high of $92.90.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, April 25th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $735.00 million during the quarter, compared to analysts’ expectations of $649.55 million. Nasdaq had a net margin of 17.88% and a return on equity of 12.93%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS. research analysts expect that Nasdaq Inc will post 4.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. Nasdaq’s payout ratio is presently 37.44%.
Nasdaq declared that its Board of Directors has approved a stock repurchase plan on Monday, January 29th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, insider Bradley J. Peterson sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $88.25, for a total value of $123,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward S. Knight sold 26,258 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $88.20, for a total transaction of $2,315,955.60. Following the completion of the transaction, the executive vice president now owns 86,627 shares of the company’s stock, valued at $7,640,501.40. The disclosure for this sale can be found here. Insiders sold a total of 29,658 shares of company stock valued at $2,618,346 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Nasdaq Company Profile
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.
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