Nasdaq, Inc. $NDAQ Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,911 shares of the financial services provider’s stock after selling 43,604 shares during the quarter. Sterling Capital Management LLC owned approximately 0.05% of Nasdaq worth $25,884,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NDAQ. Legal & General Group Plc increased its holdings in shares of Nasdaq by 1.6% in the fourth quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after purchasing an additional 45,783 shares during the last quarter. M&T Bank Corp boosted its stake in Nasdaq by 27.5% during the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock worth $5,933,000 after buying an additional 13,160 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Nasdaq in the 4th quarter valued at $1,245,000. Advisors Preferred LLC purchased a new stake in Nasdaq in the 4th quarter valued at $4,872,000. Finally, Intech Investment Management LLC increased its stake in shares of Nasdaq by 129.2% in the 3rd quarter. Intech Investment Management LLC now owns 55,134 shares of the financial services provider’s stock worth $4,877,000 after acquiring an additional 31,081 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Up 1.2%

Nasdaq stock opened at $78.56 on Friday. Nasdaq, Inc. has a fifty-two week low of $77.09 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50 day moving average price of $88.21 and a 200 day moving average price of $89.65. The company has a market capitalization of $44.43 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts expect that Nasdaq, Inc. will post 3.87 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.6%. Nasdaq’s dividend payout ratio is presently 37.35%.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ab Investor purchased 56,782 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 138,162 shares of company stock valued at $11,932,913. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the topic of a number of analyst reports. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. TD Cowen cut their price target on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Barclays lifted their price target on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.79.

About Nasdaq

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.