Nasdaq, Inc. $NDAQ Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,868 shares of the financial services provider’s stock after buying an additional 8,723 shares during the period. Avantax Advisory Services Inc.’s holdings in Nasdaq were worth $11,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Nasdaq by 33.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock worth $2,438,897,000 after acquiring an additional 6,840,735 shares during the last quarter. Nuveen LLC purchased a new stake in Nasdaq during the 1st quarter worth approximately $241,614,000. Invesco Ltd. grew its position in Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after purchasing an additional 1,592,057 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Nasdaq by 54.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock valued at $240,468,000 after purchasing an additional 952,354 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock worth $125,574,000 after buying an additional 845,725 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $85.70 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50 day moving average price of $88.80 and a 200-day moving average price of $88.82. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The firm has a market cap of $48.93 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, December 5th. Nasdaq’s payout ratio is currently 38.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NDAQ. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Piper Sandler raised their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Barclays set a $109.00 price target on shares of Nasdaq and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.67.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares in the company, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Nasdaq 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.