Pathway Financial Advisers LLC Takes $784,000 Position in Nasdaq, Inc. $NDAQ

Pathway Financial Advisers LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,241 shares of the financial services provider’s stock, valued at approximately $784,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Nasdaq in the fourth quarter worth $530,100,000. Morgan Stanley grew its stake in Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock valued at $900,061,000 after buying an additional 3,567,843 shares during the last quarter. Nuveen LLC grew its stake in Nasdaq by 82.0% in the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after buying an additional 2,736,322 shares during the last quarter. Harris Associates L P raised its holdings in Nasdaq by 46.0% in the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock worth $837,425,000 after acquiring an additional 2,716,280 shares during the period. Finally, State Street Corp lifted its position in Nasdaq by 7.7% during the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock worth $1,735,318,000 after acquiring an additional 1,404,348 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 2.2%

NDAQ stock opened at $76.85 on Tuesday. Nasdaq, Inc. has a twelve month low of $76.76 and a twelve month high of $101.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market cap of $43.46 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.57 and a beta of 0.97. The business’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $89.55.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. On average, research analysts anticipate that Nasdaq, Inc. will post 3.87 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.31 dividend. This is a boost 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 yield of 1.6%. Nasdaq’s payout ratio is presently 37.35%.

Analyst Ratings Changes

NDAQ has been the topic of several research analyst reports. TD Cowen lowered their price target on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th. Loop Capital set a $113.00 target price on Nasdaq in a report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.79.

Insider Buying and Selling

In other Nasdaq news, CEO Adena T. Friedman sold 113,611 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the transaction, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares in the company, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 138,162 shares of company stock worth $11,932,913. Insiders own 0.60% of the company’s stock.

Nasdaq Profile

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.