Strs Ohio Buys 33,503 Shares of Nasdaq, Inc. $NDAQ

Strs Ohio raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.7% in the second quarter, Holdings Channel.com reports. The firm owned 379,503 shares of the financial services provider’s stock after acquiring an additional 33,503 shares during the period. Strs Ohio’s holdings in Nasdaq were worth $33,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Leavell Investment Management Inc. lifted its holdings in shares of Nasdaq by 0.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock worth $2,339,000 after acquiring an additional 116 shares during the period. Bruce G. Allen Investments LLC increased its position in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. Fielder Capital Group LLC increased its position in Nasdaq by 3.0% in the 2nd quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 122 shares in the last quarter. Freedom Investment Management Inc. increased its position in Nasdaq by 2.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 128 shares in the last quarter. Finally, Private Trust Co. NA increased its position in Nasdaq by 2.5% in the 2nd quarter. Private Trust Co. NA now owns 5,656 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 137 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NDAQ has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. TD Cowen raised their price objective on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research report on Thursday, October 9th. Barclays set a $109.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.56.

Nasdaq Stock Up 0.3%

Shares of NASDAQ:NDAQ opened at $85.66 on Friday. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a 50 day moving average of $90.65 and a 200-day moving average of $87.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $48.91 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm earned $0.74 EPS. Nasdaq’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 annualized dividend and a yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

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.