NEOS Investment Management LLC Acquires 8,730 Shares of Nasdaq, Inc. $NDAQ

NEOS Investment Management LLC grew its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,836 shares of the financial services provider’s stock after buying an additional 8,730 shares during the period. NEOS Investment Management LLC’s holdings in Nasdaq were worth $5,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Fiduciary Financial Advisors bought a new position in Nasdaq in the 2nd quarter worth $25,000. MV Capital Management Inc. purchased a new stake in shares of Nasdaq in the 4th quarter worth about $28,000. Nemes Rush Group LLC bought a new stake in shares of Nasdaq during the 4th quarter valued at about $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the 4th quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the fourth quarter valued at about $37,000. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the subject of a number of research reports. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Barclays reaffirmed an “overweight” rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. TD Cowen reissued a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods raised their target price on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $110.30.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $96.88 on Monday. The firm has a market capitalization of $54.15 billion, a P/E ratio of 28.24, a PEG ratio of 1.69 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company’s 50-day simple moving average is $92.89 and its 200 day simple moving average is $89.03.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is 36.15%.

Insider Buying and Selling at Nasdaq

In related news, major shareholder Ab Investor purchased 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is owned by insiders.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.