Nasdaq, Inc. $NDAQ Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,018 shares of the financial services provider’s stock after acquiring an additional 5,059 shares during the period. DAVENPORT & Co LLC’s holdings in Nasdaq were worth $5,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in Nasdaq by 7.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider’s stock worth $3,274,000 after acquiring an additional 3,096 shares in the last quarter. USA Financial Formulas grew its holdings in Nasdaq by 61.1% during the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 6,764 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock worth $172,098,000 after acquiring an additional 27,622 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Nasdaq during the 1st quarter worth approximately $222,000. Finally, Manning & Napier Advisors LLC grew its holdings in Nasdaq by 3.9% during the 1st quarter. Manning & Napier Advisors LLC now owns 861,437 shares of the financial services provider’s stock worth $65,349,000 after acquiring an additional 32,004 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NDAQ. Piper Sandler boosted their price target on shares of Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Raymond James Financial restated an “outperform” rating and set a $96.00 price objective (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Royal Bank Of Canada boosted their price objective on shares of Nasdaq from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Oppenheimer restated an “outperform” rating and set a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Saturday, September 27th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.31.

Nasdaq Stock Up 0.3%

NDAQ stock opened at $88.44 on Wednesday. The company has a fifty day moving average price of $93.02 and a 200 day moving average price of $85.68. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market cap of $50.75 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. Nasdaq’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq’s dividend payout ratio is 41.54%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Nasdaq Profile

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.