Intech Investment Management LLC Acquires 31,081 Shares of Nasdaq, Inc. $NDAQ

Intech Investment Management LLC boosted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 129.2% during the third quarter, Holdings Channel reports. The firm owned 55,134 shares of the financial services provider’s stock after acquiring an additional 31,081 shares during the quarter. Intech Investment Management LLC’s holdings in Nasdaq were worth $4,877,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NDAQ. US Bancorp DE grew its position in shares of Nasdaq by 3.2% in the 3rd quarter. US Bancorp DE now owns 66,197 shares of the financial services provider’s stock worth $5,855,000 after buying an additional 2,044 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Nasdaq by 236.8% in the third quarter. Fox Run Management L.L.C. now owns 18,419 shares of the financial services provider’s stock worth $1,629,000 after acquiring an additional 12,950 shares during the period. RWA Wealth Partners LLC boosted its holdings in Nasdaq by 9.8% in the third quarter. RWA Wealth Partners LLC now owns 24,952 shares of the financial services provider’s stock valued at $2,207,000 after acquiring an additional 2,226 shares in the last quarter. Waddell & Associates LLC purchased a new position in Nasdaq during the 3rd quarter valued at $209,000. Finally, TD Asset Management Inc raised its holdings in Nasdaq by 3.2% in the 3rd quarter. TD Asset Management Inc now owns 154,018 shares of the financial services provider’s stock worth $13,623,000 after purchasing an additional 4,792 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research report on Friday, January 9th. Argus upgraded Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. raised their target price on Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $106.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Nasdaq has an average rating of “Buy” and a consensus price target of $103.80.

Nasdaq Stock Down 1.1%

NDAQ stock opened at $87.58 on Friday. The business has a 50 day moving average of $92.79 and a 200 day moving average of $91.23. The firm has a market cap of $49.78 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.44 and a beta of 1.02. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate 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 $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s dividend payout ratio is 34.95%.

Insider Transactions at Nasdaq

In related news, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares in the company, valued at $186,542,349.73. The trade was a 13.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president directly owned 125,674 shares in the company, valued at $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 604,500 shares of company stock valued at $58,440,045. 0.70% of the stock is owned by company insiders.

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.