Nasdaq, Inc. $NDAQ Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,433,641 shares of the financial services provider’s stock after selling 252,420 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Nasdaq worth $128,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NDAQ. Massachusetts Financial Services Co. MA raised its stake in Nasdaq by 33.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock valued at $2,438,897,000 after acquiring an additional 6,840,735 shares during the last quarter. Norges Bank purchased a new position in shares of Nasdaq in the 2nd quarter valued at approximately $406,823,000. Nuveen LLC acquired a new position in shares of Nasdaq in the first quarter valued at approximately $241,614,000. Vanguard Group Inc. lifted its holdings in shares of Nasdaq by 5.3% during the second quarter. Vanguard Group Inc. now owns 55,800,000 shares of the financial services provider’s stock worth $4,989,636,000 after purchasing an additional 2,820,339 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Nasdaq by 261.7% during the second quarter. Neuberger Berman Group LLC now owns 2,690,186 shares of the financial services provider’s stock worth $240,556,000 after purchasing an additional 1,946,479 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total value of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares of the company’s stock, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a research report on Thursday, October 9th. TD Cowen boosted their price target on shares of Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Cowen reissued a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Barclays set a $109.00 price objective on Nasdaq and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial reissued an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Nasdaq Price Performance

NDAQ stock opened at $90.22 on Monday. The firm has a 50 day moving average of $88.10 and a 200-day moving average of $89.66. The company has a market cap of $51.51 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 1.64 and a beta of 1.02. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.Nasdaq’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s payout ratio is 38.57%.

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.