Desjardins Global Asset Management Inc. lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,516 shares of the financial services provider’s stock after buying an additional 1,559 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Nasdaq were worth $630,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its stake in shares of Nasdaq by 15.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 88,023 shares of the financial services provider’s stock valued at $4,812,000 after purchasing an additional 11,766 shares during the last quarter. abrdn plc lifted its position in Nasdaq by 0.5% in the first quarter. abrdn plc now owns 92,831 shares of the financial services provider’s stock worth $5,075,000 after buying an additional 418 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Nasdaq during the first quarter valued at $61,000. SG Americas Securities LLC raised its stake in shares of Nasdaq by 34.1% in the first quarter. SG Americas Securities LLC now owns 31,174 shares of the financial services provider’s stock valued at $1,704,000 after acquiring an additional 7,923 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of Nasdaq by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 93,090 shares of the financial services provider’s stock worth $5,089,000 after acquiring an additional 1,000 shares during the last quarter. 72.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NDAQ has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Nasdaq from $56.00 to $53.00 in a research report on Tuesday, June 13th. Bank of America dropped their price objective on Nasdaq from $53.00 to $51.00 in a research note on Tuesday, June 13th. Oppenheimer upped their target price on Nasdaq from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $70.00 to $60.00 in a research note on Tuesday, April 11th. Finally, UBS Group cut their price objective on shares of Nasdaq from $62.00 to $56.00 in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.44.
Nasdaq Stock Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $925.00 million for the quarter, compared to analyst estimates of $914.85 million. Nasdaq had a net margin of 18.08% and a return on equity of 21.92%. Nasdaq’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, equities research analysts expect that Nasdaq, Inc. will post 2.73 earnings per share for the current fiscal year.
Nasdaq Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, September 14th. Nasdaq’s payout ratio is currently 39.64%.
Insider Transactions at Nasdaq
In other news, Director Steven D. Black bought 4,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was bought at an average cost of $51.46 per share, with a total value of $205,840.00. Following the transaction, the director now directly owns 144,469 shares in the company, valued at approximately $7,434,374.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.75% of the company’s stock.
About Nasdaq
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.
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