Tandem Investment Advisors Inc. Takes $13.89 Million Position in Nasdaq, Inc. $NDAQ

Tandem Investment Advisors Inc. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the first quarter, Holdings Channel.com reports. The firm acquired 163,632 shares of the financial services provider’s stock, valued at approximately $13,891,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in shares of Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 538 shares during the period. Woodline Partners LP grew its stake in Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after buying an additional 10,110 shares during the last quarter. Focus Partners Wealth raised its holdings in Nasdaq by 22.0% in the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after acquiring an additional 2,584 shares during the period. Geneos Wealth Management Inc. raised its holdings in Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 463 shares during the period. Finally, Guggenheim Capital LLC lifted its position in Nasdaq by 4.4% during the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 481 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Barclays cut their price objective on Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. TD Cowen lowered their target price on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Finally, Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $107.42.

Insider Transactions at Nasdaq

In related news, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares of the company’s stock, valued at $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the sale, the insider owned 215,208 shares in the company, valued at $19,530,126. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 over the last 90 days. Insiders own 0.60% of the company’s stock.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $91.64 on Friday. The company’s fifty day moving average is $87.32 and its two-hundred day moving average is $88.75. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 1.46 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts forecast that Nasdaq, Inc. will post 3.92 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.31 dividend. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq’s payout ratio is currently 37.35%.

Nasdaq Profile

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.