Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 41.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,705 shares of the financial services provider’s stock after selling 1,941 shares during the period. Federated Hermes Inc.’s holdings in Nasdaq were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NDAQ. The Manufacturers Life Insurance Company lifted its holdings in shares of Nasdaq by 214.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock valued at $305,224,000 after buying an additional 4,280,846 shares during the period. LGT Capital Partners LTD. raised its position in Nasdaq by 136.5% in the fourth quarter. LGT Capital Partners LTD. now owns 1,264,990 shares of the financial services provider’s stock valued at $73,547,000 after purchasing an additional 730,200 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Nasdaq by 16.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock valued at $232,564,000 after purchasing an additional 681,238 shares during the last quarter. Flossbach Von Storch AG grew its holdings in shares of Nasdaq by 230.9% during the 3rd quarter. Flossbach Von Storch AG now owns 795,943 shares of the financial services provider’s stock worth $38,675,000 after purchasing an additional 555,412 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Nasdaq by 34.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,070,450 shares of the financial services provider’s stock worth $100,603,000 after purchasing an additional 533,086 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NDAQ has been the topic of a number of recent analyst reports. StockNews.com cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Oppenheimer lifted their target price on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Citigroup raised their price target on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, Barclays decreased their target price on Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.92.

Nasdaq Price Performance

NDAQ stock opened at $60.87 on Monday. The business’s 50-day moving average is $60.34 and its two-hundred day moving average is $56.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 1.01. The firm has a market capitalization of $35.01 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.36 and a beta of 0.94. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $64.25.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business earned $0.69 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Nasdaq, Inc. will post 2.69 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.24 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, June 14th. Nasdaq’s payout ratio is 46.32%.

Insider Buying and Selling

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total transaction of $181,826.04. Following the transaction, the executive vice president now owns 58,636 shares of the company’s stock, valued at $3,511,710.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the transaction, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,010,436 shares of company stock worth $1,798,647,360. Corporate insiders own 0.75% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.