Nasdaq, Inc. $NDAQ Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,590 shares of the financial services provider’s stock after purchasing an additional 10,200 shares during the quarter. State of Michigan Retirement System’s holdings in Nasdaq were worth $10,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDAQ. Front Row Advisors LLC purchased a new position in Nasdaq in the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Nasdaq in the second quarter worth about $27,000. Tripletail Wealth Management LLC purchased a new position in Nasdaq in the third quarter valued at about $27,000. Access Investment Management LLC acquired a new stake in Nasdaq during the 2nd quarter valued at approximately $28,000. Finally, Westside Investment Management Inc. grew its stake in Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 0.8%

Shares of NASDAQ:NDAQ opened at $84.83 on Monday. The company’s fifty day moving average is $95.64 and its two-hundred day moving average is $92.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.99 and a current ratio of 1.01. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $101.79. The stock has a market capitalization of $48.44 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s dividend payout ratio is presently 34.95%.

Insider Buying and Selling

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $96.91, for a total value of $29,073,000.00. Following the sale, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at $186,542,349.73. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares in the company, valued at $12,568,656.74. The trade was a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 604,500 shares of company stock worth $58,440,045 over the last quarter. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Cowen upped their target price on Nasdaq from $104.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a report on Friday, January 30th. Raymond James Financial reiterated an “outperform” rating and set a $100.00 price objective (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. UBS Group reissued a “buy” rating and issued a $120.00 target price (up previously from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research report on Friday, January 9th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.13.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.