Simmons Bank Purchases 12,842 Shares of Nasdaq, Inc. $NDAQ

Simmons Bank increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 55.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,948 shares of the financial services provider’s stock after buying an additional 12,842 shares during the period. Simmons Bank’s holdings in Nasdaq were worth $3,052,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. MV Capital Management Inc. bought a new position in Nasdaq during the 4th quarter worth about $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Nasdaq in the 4th quarter worth approximately $34,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq during the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Nasdaq during the fourth quarter valued at approximately $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $76.85 on Tuesday. Nasdaq, Inc. has a fifty-two week low of $76.76 and a fifty-two week high of $101.79. The company has a market cap of $43.46 billion, a PE ratio of 23.15, a P/E/G ratio of 1.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50-day simple moving average of $87.97 and a two-hundred day simple moving average of $89.55.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts expect that Nasdaq, Inc. will post 3.87 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a yield of 1.6%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s payout ratio is presently 37.35%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. TD Cowen cut their price target on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Barclays upped their price objective on Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.79.

Insider Buying and Selling at Nasdaq

In other news, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the sale, the senior vice president directly owned 10,089 shares in the company, valued at approximately $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 138,162 shares of company stock worth $11,932,913 in the last three months. 0.60% of the stock is owned by company insiders.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.