Nasdaq, Inc. $NDAQ Stock Holdings Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,044 shares of the financial services provider’s stock after acquiring an additional 790 shares during the period. Maryland State Retirement & Pension System’s holdings in Nasdaq were worth $1,792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NDAQ. Nuveen LLC bought a new stake in shares of Nasdaq in the 1st quarter worth $241,614,000. Invesco Ltd. raised its stake in shares of Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after buying an additional 1,592,057 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nasdaq by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after buying an additional 993,553 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Nasdaq by 104.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock worth $125,574,000 after buying an additional 845,725 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in shares of Nasdaq by 2,462.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider’s stock worth $59,797,000 after buying an additional 757,488 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 2.7%

NASDAQ:NDAQ opened at $88.90 on Friday. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.02 and a beta of 0.98. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average price is $92.68 and its 200 day moving average price is $85.94.

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

Nasdaq Dividend Announcement

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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Nasdaq’s payout ratio is presently 41.54%.

Insider Buying and Selling at Nasdaq

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NDAQ. Oppenheimer reissued an “outperform” rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Citigroup restated a “neutral” rating on shares of Nasdaq in a report on Wednesday, July 9th. Morgan Stanley set a $90.00 target price on Nasdaq and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, Raymond James Financial restated an “outperform” rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Fifteen analysts have rated the stock with a Buy rating and three have assigned 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 $97.25.

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.