New Mexico Educational Retirement Board increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,484 shares of the financial services provider’s stock after purchasing an additional 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Nasdaq were worth $822,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NDAQ. RB Capital Management LLC increased its position in Nasdaq by 15.9% during the first quarter. RB Capital Management LLC now owns 3,264 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 448 shares during the last quarter. American Century Companies Inc. increased its position in shares of Nasdaq by 10.2% during the first quarter. American Century Companies Inc. now owns 2,209 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 205 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Nasdaq by 14.1% during the first quarter. Raymond James Trust N.A. now owns 3,932 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 487 shares during the last quarter. Sei Investments Co. increased its position in shares of Nasdaq by 8.4% during the first quarter. Sei Investments Co. now owns 136,395 shares of the financial services provider’s stock valued at $24,319,000 after acquiring an additional 10,623 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Nasdaq by 32.0% during the first quarter. Allianz Asset Management GmbH now owns 316,344 shares of the financial services provider’s stock valued at $56,373,000 after acquiring an additional 76,603 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on NDAQ. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 price target on shares of Nasdaq in a research report on Tuesday, July 25th. UBS Group dropped their price target on shares of Nasdaq from $62.00 to $56.00 in a research report on Tuesday, June 13th. Bank of America dropped their price target on shares of Nasdaq from $53.00 to $51.00 in a research report on Tuesday, June 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nasdaq from $56.00 to $53.00 in a report on Tuesday, June 13th. Finally, StockNews.com cut shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.67.
Nasdaq Trading Down 0.3 %
NASDAQ NDAQ opened at $48.42 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.57. Nasdaq, Inc. has a 52 week low of $47.88 and a 52 week high of $69.22. The stock has a market capitalization of $23.79 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 5.01 and a beta of 0.91. The firm has a 50 day moving average of $50.81 and a two-hundred day moving average of $52.45.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Nasdaq had a net margin of 18.08% and a return on equity of 21.92%. The company had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $914.85 million. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Nasdaq, Inc. will post 2.74 EPS for the current fiscal year.
Nasdaq Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Thursday, September 14th. Nasdaq’s payout ratio is 39.64%.
Insider Activity
In other news, EVP Ann M. Dennison sold 5,100 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $50.05, for a total value of $255,255.00. Following the completion of the transaction, the executive vice president now owns 64,509 shares in the company, valued at approximately $3,228,675.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Ann M. Dennison sold 5,100 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $50.05, for a total value of $255,255.00. Following the completion of the transaction, the executive vice president now owns 64,509 shares in the company, valued at approximately $3,228,675.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adena T. Friedman bought 10,000 shares of the stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $51.00 per share, with a total value of $510,000.00. Following the acquisition, the chief executive officer now owns 1,672,318 shares in the company, valued at approximately $85,288,218. The disclosure for this purchase can be found here. Company 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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