Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $49.93, but opened at $51.29. Nasdaq shares last traded at $52.66, with a volume of 556,787 shares trading hands.
The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Nasdaq had a net margin of 18.08% and a return on equity of 21.92%. The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $931.14 million. During the same quarter in the prior year, the business posted $0.68 EPS. Nasdaq’s quarterly revenue was up 5.6% on a year-over-year basis.
Nasdaq Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. Nasdaq’s dividend payout ratio is currently 39.64%.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Nasdaq
Insider Buying and Selling
In other news, CEO Adena T. Friedman acquired 10,000 shares of Nasdaq stock in a transaction on Monday, July 31st. The stock was bought at an average price of $51.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now owns 1,672,318 shares of the company’s stock, valued at $85,288,218. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Nasdaq news, CEO Adena T. Friedman purchased 10,000 shares of the stock in a transaction on Monday, July 31st. The shares were purchased 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 directly owns 1,672,318 shares of the company’s stock, valued at approximately $85,288,218. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann M. Dennison sold 5,100 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $50.05, for a total transaction of $255,255.00. Following the transaction, the executive vice president now directly owns 64,509 shares of the company’s stock, valued at $3,228,675.45. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.
Institutional Investors Weigh In On Nasdaq
Several large investors have recently modified their holdings of NDAQ. BlackRock Inc. grew its position in Nasdaq by 12.2% in the second quarter. BlackRock Inc. now owns 30,147,422 shares of the financial services provider’s stock valued at $1,502,849,000 after acquiring an additional 3,276,599 shares during the period. State Street Corp grew its holdings in shares of Nasdaq by 2.3% in the 2nd quarter. State Street Corp now owns 14,431,683 shares of the financial services provider’s stock worth $719,419,000 after purchasing an additional 321,354 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Nasdaq by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,756,255 shares of the financial services provider’s stock valued at $2,273,164,000 after purchasing an additional 126,348 shares during the last quarter. Geode Capital Management LLC boosted its position in Nasdaq by 2.4% in the second quarter. Geode Capital Management LLC now owns 7,920,318 shares of the financial services provider’s stock valued at $393,881,000 after buying an additional 184,645 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Nasdaq by 6.8% during the second quarter. Franklin Resources Inc. now owns 6,477,638 shares of the financial services provider’s stock worth $322,910,000 after buying an additional 409,980 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.
Nasdaq Trading Up 4.0 %
The company has a market cap of $25.51 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 7.67 and a beta of 0.91. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.57. The company’s fifty day moving average price is $50.62 and its two-hundred day moving average price is $52.14.
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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