Intech Investment Management LLC Cuts Stock Holdings in Nasdaq, Inc. $NDAQ

Intech Investment Management LLC trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 35.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,052 shares of the financial services provider’s stock after selling 19,309 shares during the period. Intech Investment Management LLC’s holdings in Nasdaq were worth $2,659,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Focus Partners Wealth boosted its holdings in shares of Nasdaq by 22.0% during the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after purchasing an additional 2,584 shares during the period. Advisory Alpha LLC boosted its holdings in shares of Nasdaq by 10.4% during the first quarter. Advisory Alpha LLC now owns 3,591 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 339 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nasdaq by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,981,130 shares of the financial services provider’s stock worth $302,009,000 after purchasing an additional 262,661 shares during the period. Woodline Partners LP boosted its holdings in shares of Nasdaq by 40.7% during the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after purchasing an additional 10,110 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Nasdaq by 3.8% during the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 538 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Shares of NDAQ opened at $93.95 on Monday. The company has a market capitalization of $53.91 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $93.60 and a 200 day moving average of $84.21. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Nasdaq’s dividend payout ratio (DPR) is 41.54%.

Insider Activity at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president directly owned 111,035 shares of the company’s stock, valued at $9,867,680.45. This trade represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,409 shares of company stock valued at $2,223,599 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NDAQ shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. UBS Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their price objective on Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.06.

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.