Nasdaq, Inc. $NDAQ Position Boosted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.4% during the 2nd quarter, Holdings Channel reports. The fund owned 62,825 shares of the financial services provider’s stock after acquiring an additional 2,669 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Nasdaq were worth $5,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in NDAQ. US Bancorp DE raised its holdings in shares of Nasdaq by 35.9% in the 2nd quarter. US Bancorp DE now owns 64,153 shares of the financial services provider’s stock worth $5,737,000 after purchasing an additional 16,950 shares in the last quarter. 111 Capital boosted its stake in shares of Nasdaq by 67.0% during the 2nd quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 4,450 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Nasdaq in the 1st quarter worth $664,000. Fiduciary Alliance LLC raised its position in shares of Nasdaq by 18.9% during the second quarter. Fiduciary Alliance LLC now owns 25,012 shares of the financial services provider’s stock worth $2,237,000 after purchasing an additional 3,976 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Nasdaq by 9.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 64,012 shares of the financial services provider’s stock valued at $4,856,000 after purchasing an additional 5,507 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares in the company, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NDAQ shares. Raymond James Financial restated an “outperform” rating and set a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Cowen restated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a research report on Thursday, October 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, TD Cowen increased their target price on Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.67.

Nasdaq Stock Performance

NDAQ stock opened at $87.08 on Friday. The firm has a 50 day simple moving average of $88.99 and a 200 day simple moving average of $88.57. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The stock has a market cap of $49.72 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99.

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

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 38.57%.

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.