Sterling Capital Management LLC Sells 28,305 Shares of Nasdaq, Inc. $NDAQ

Sterling Capital Management LLC cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 513,659 shares of the financial services provider’s stock after selling 28,305 shares during the quarter. Sterling Capital Management LLC’s holdings in Nasdaq were worth $45,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in Nasdaq in the 1st quarter worth about $241,614,000. Invesco Ltd. increased its stake in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after buying an additional 1,592,057 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $1,550,115,000 after buying an additional 993,553 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Nasdaq by 54.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock worth $240,468,000 after buying an additional 952,354 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Nasdaq by 104.5% during 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 acquiring an additional 845,725 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president directly owned 84,974 shares of the company’s stock, valued at $7,256,779.60. The trade was a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $86.19 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a fifty day moving average of $89.76 and a 200-day moving average of $87.99. The firm has a market capitalization of $49.21 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

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

Analysts Set New Price Targets

NDAQ has been the subject of several analyst reports. Cowen reaffirmed a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. TD Cowen raised their target price on Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.67.

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.