Bank of New York Mellon Corp Buys 44,170 Shares of Nasdaq, Inc. $NDAQ

Bank of New York Mellon Corp grew its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQFree Report) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,674,927 shares of the financial services provider’s stock after buying an additional 44,170 shares during the period. Bank of New York Mellon Corp’s holdings in Nasdaq were worth $236,597,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NDAQ. Massachusetts Financial Services Co. MA raised its holdings in Nasdaq by 33.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock valued at $2,438,897,000 after acquiring an additional 6,840,735 shares in the last quarter. Norges Bank acquired a new stake in shares of Nasdaq during the 2nd quarter worth approximately $406,823,000. Vanguard Group Inc. increased its position in shares of Nasdaq by 5.3% during the second quarter. Vanguard Group Inc. now owns 55,800,000 shares of the financial services provider’s stock valued at $4,989,636,000 after purchasing an additional 2,820,339 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Nasdaq by 261.7% in the second quarter. Neuberger Berman Group LLC now owns 2,690,186 shares of the financial services provider’s stock valued at $240,556,000 after purchasing an additional 1,946,479 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Nasdaq by 4,365.0% in the second quarter. Balyasny Asset Management L.P. now owns 1,641,123 shares of the financial services provider’s stock worth $146,749,000 after purchasing an additional 1,604,368 shares during the period. Institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NDAQ shares. UBS Group reissued a “buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of Nasdaq in a report on Monday, January 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Friday. TD Cowen raised their price target on shares of Nasdaq from $104.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday. Finally, Barclays reissued an “overweight” rating and issued a $115.00 target price (up from $114.00) on shares of Nasdaq in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $103.13.

Get Our Latest Stock Report on NDAQ

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $96.89 on Friday. The stock has a market capitalization of $55.32 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The firm has a 50 day moving average of $95.74 and a 200-day moving average of $92.61.

Nasdaq (NASDAQ:NDAQGet Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company earned $0.76 EPS. Nasdaq’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s payout ratio is currently 38.57%.

Nasdaq News Roundup

Here are the key news stories impacting Nasdaq this week:

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president owned 84,974 shares of the company’s stock, valued at $7,256,779.60. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares of the company’s stock, valued at $12,568,656.74. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 306,605 shares of company stock worth $29,546,812 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

About Nasdaq

(Free Report)

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.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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