Bank of Montreal Can Sells 90,910 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of Montreal Can decreased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQGet Rating) by 59.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,255 shares of the financial services provider’s stock after selling 90,910 shares during the period. Bank of Montreal Can’s holdings in Nasdaq were worth $9,758,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NDAQ. Diamond Hill Capital Management Inc. increased its position in shares of Nasdaq by 35.2% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,098,725 shares of the financial services provider’s stock worth $373,993,000 after acquiring an additional 546,977 shares in the last quarter. Renaissance Technologies LLC grew its position in Nasdaq by 43,200.0% in the first quarter. Renaissance Technologies LLC now owns 519,600 shares of the financial services provider’s stock valued at $92,593,000 after purchasing an additional 518,400 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Nasdaq by 4.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,594,067 shares of the financial services provider’s stock valued at $2,066,063,000 after purchasing an additional 443,130 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Nasdaq in the first quarter valued at $65,696,000. Finally, Lord Abbett & CO. LLC bought a new position in Nasdaq in the first quarter valued at $31,305,000. Institutional investors own 73.57% of the company’s stock.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $67.13 on Friday. The firm has a 50-day moving average of $60.67 and a 200-day moving average of $57.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market cap of $32.98 billion, a PE ratio of 29.40, a P/E/G ratio of 5.32 and a beta of 0.94. Nasdaq, Inc. has a 52-week low of $46.77 and a 52-week high of $70.55.

Nasdaq (NASDAQ:NDAQGet Rating) last posted its earnings results on Wednesday, October 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Nasdaq had a net margin of 18.72% and a return on equity of 22.08%. The company had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $884.15 million. During the same quarter last year, the company posted $0.59 EPS. Nasdaq’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 2.68 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, December 1st. Nasdaq’s dividend payout ratio (DPR) is 35.04%.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,100 shares of Nasdaq stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $59.80, for a total value of $125,580.00. Following the completion of the sale, the executive vice president now owns 58,581 shares in the company, valued at approximately $3,503,143.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nasdaq news, EVP Jeremy Skule sold 2,100 shares of Nasdaq stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $59.80, for a total value of $125,580.00. Following the completion of the sale, the executive vice president now owns 58,581 shares in the company, valued at approximately $3,503,143.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 13,596 shares of Nasdaq stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $65.00, for a total transaction of $883,740.00. Following the completion of the sale, the executive vice president now owns 122,169 shares of the company’s stock, valued at approximately $7,940,985. The disclosure for this sale can be found here. Insiders sold 31,896 shares of company stock worth $2,006,190 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Nasdaq to $58.00 in a research report on Tuesday, November 15th. Morgan Stanley raised their target price on shares of Nasdaq from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nasdaq from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. Redburn Partners began coverage on shares of Nasdaq in a research note on Monday, November 14th. They issued a “neutral” rating for the company. Finally, Bank of America cut shares of Nasdaq from a “buy” rating to an “underperform” rating and cut their price target for the company from $65.00 to $58.00 in a research note on Friday, October 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.44.

About Nasdaq

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Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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