Bank of Nova Scotia Has $25.15 Million Stock Position in Nasdaq, Inc. $NDAQ

Bank of Nova Scotia cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 281,297 shares of the financial services provider’s stock after selling 28,120 shares during the period. Bank of Nova Scotia’s holdings in Nasdaq were worth $25,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NDAQ. Bruce G. Allen Investments LLC boosted its stake in Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Nasdaq in the second quarter worth about $27,000. Access Investment Management LLC acquired a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $28,000. CVA Family Office LLC grew its holdings in shares of Nasdaq by 137.4% during the 2nd quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 213 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in Nasdaq during the 1st quarter worth approximately $34,000. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the topic of a number of research analyst reports. Cowen restated a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. 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 reaffirmed a “buy (b-)” rating on shares of Nasdaq in a report on Tuesday, October 14th. Barclays set a $109.00 target price on Nasdaq and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Raymond James Financial restated an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

Nasdaq Stock Up 1.0%

Shares of NASDAQ NDAQ opened at $90.72 on Wednesday. The company’s 50 day moving average price is $88.17 and its 200-day moving average price is $89.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The company has a market capitalization of $51.80 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 1.63 and a beta of 1.02.

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

Nasdaq Dividend Announcement

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

Insider Activity

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

About Nasdaq

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.