Nasdaq, Inc. (NASDAQ:NDAQ) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 511,726 shares of the financial services provider’s stock after buying an additional 11,978 shares during the quarter. Nasdaq makes up approximately 1.2% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 14th largest holding. NorthCrest Asset Manangement LLC’s holdings in Nasdaq were worth $38,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA increased its position in Nasdaq by 1.1% during the 1st quarter. Union Bancaire Privee UBP SA now owns 1,455,266 shares of the financial services provider’s stock valued at $107,834,000 after buying an additional 15,453 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Nasdaq by 1.6% in the first quarter. Fifth Third Bancorp now owns 19,732 shares of the financial services provider’s stock valued at $1,497,000 after purchasing an additional 312 shares during the period. USA Financial Formulas increased its holdings in shares of Nasdaq by 61.1% in the first quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider’s stock valued at $1,353,000 after purchasing an additional 6,764 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Nasdaq by 12.9% in the first quarter. Handelsbanken Fonder AB now owns 1,354,476 shares of the financial services provider’s stock valued at $102,751,000 after purchasing an additional 154,780 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Nasdaq by 142.2% in the first quarter. SG Americas Securities LLC now owns 11,087 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 6,510 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group reissued a “cautious” rating on shares of Nasdaq in a report on Monday, April 28th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Citigroup cut their price objective on Nasdaq from $84.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays lowered their target price on Nasdaq from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.50.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider now owns 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sarah Youngwood sold 14,959 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares in the company, valued at approximately $4,398,253.92. This trade represents a 20.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,616 shares of company stock worth $1,813,598. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $86.90 on Friday. The company has a market capitalization of $49.89 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.12 and a beta of 1.00. The business’s 50 day moving average is $78.34 and its two-hundred day moving average is $78.61. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a 12-month low of $58.28 and a 12-month high of $87.50.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. Nasdaq’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. Analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. This is an increase from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio is currently 49.09%.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.