Redwood Investments LLC purchased a new stake in shares of Nasdaq Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 230,927 shares of the company’s stock, valued at approximately $14,934,000.
Several other large investors have also modified their holdings of the stock. Commonwealth Equity Services Inc increased its stake in shares of Nasdaq by 8.9% in the first quarter. Commonwealth Equity Services Inc now owns 5,502 shares of the company’s stock valued at $365,000 after buying an additional 448 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Nasdaq by 4.6% in the first quarter. IFP Advisors Inc now owns 3,114 shares of the company’s stock valued at $207,000 after buying an additional 137 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of Nasdaq by 232.3% in the first quarter. CIBC World Markets Inc. now owns 23,639 shares of the company’s stock valued at $1,569,000 after buying an additional 16,525 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Nasdaq during the first quarter valued at about $366,000. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Nasdaq by 24.2% in the first quarter. TIAA CREF Investment Management LLC now owns 517,226 shares of the company’s stock valued at $34,333,000 after buying an additional 100,770 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors.
Shares of Nasdaq Inc. (NASDAQ:NDAQ) traded down 0.73% during mid-day trading on Monday, hitting $67.05. 995,824 shares of the company were exchanged. Nasdaq Inc. has a 12-month low of $52.75 and a 12-month high of $71.92. The company’s 50-day moving average price is $69.95 and its 200-day moving average price is $66.61. The firm has a market capitalization of $11.09 billion, a P/E ratio of 23.22 and a beta of 0.81.
Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The firm had revenue of $559 million for the quarter, compared to analyst estimates of $548 million. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Nasdaq Inc. will post $3.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. Nasdaq’s payout ratio is presently 44.44%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Credit Suisse Group AG reiterated a “buy” rating and issued a $68.00 target price on shares of Nasdaq in a research note on Wednesday, June 29th. Evercore ISI cut shares of Nasdaq from a “buy” rating to a “hold” rating and reduced their target price for the company from $69.00 to $68.00 in a research note on Tuesday, July 5th. Barclays PLC reduced their target price on shares of Nasdaq from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Finally, Deutsche Bank AG increased their target price on shares of Nasdaq from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Nasdaq currently has an average rating of “Hold” and an average price target of $69.67.
In other news, CEO Robert Greifeld sold 18,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $70.66, for a total transaction of $1,278,946.00. Following the completion of the sale, the chief executive officer now owns 1,008,635 shares of the company’s stock, valued at approximately $71,270,149.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas A. Wittman sold 24,893 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total transaction of $1,669,822.44. Following the sale, the executive vice president now directly owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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