Nasdaq Inc. (NDAQ) Shares Bought by Pitcairn Co.
Pitcairn Co. raised its position in Nasdaq Inc. (NASDAQ:NDAQ) by 97.3% during the second quarter, Holdings Channel reports. The fund owned 13,219 shares of the company’s stock after buying an additional 6,520 shares during the period. Pitcairn Co.’s holdings in Nasdaq were worth $855,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its stake in Nasdaq by 4.6% in the first quarter. IFP Advisors Inc now owns 3,114 shares of the company’s stock worth $207,000 after buying an additional 137 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Nasdaq during the first quarter worth approximately $226,000. BKD Wealth Advisors LLC raised its stake in Nasdaq by 10.8% in the second quarter. BKD Wealth Advisors LLC now owns 4,038 shares of the company’s stock worth $261,000 after buying an additional 395 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Nasdaq during the first quarter worth approximately $293,000. Finally, Sigma Planning Corp acquired a new stake in Nasdaq during the first quarter worth approximately $360,000. 74.20% of the stock is owned by institutional investors and hedge funds.
Shares of Nasdaq Inc. (NASDAQ:NDAQ) traded up 1.51% during trading on Wednesday, hitting $70.67. The stock had a trading volume of 473,156 shares. The firm has a market cap of $11.69 billion, a P/E ratio of 24.47 and a beta of 0.77. The firm has a 50 day moving average price of $70.37 and a 200 day moving average price of $66.45. Nasdaq Inc. has a 12-month low of $50.98 and a 12-month high of $71.92.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The business had revenue of $559 million for the quarter, compared to analyst estimates of $548 million. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts expect that Nasdaq Inc. will post $3.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, September 14th. Nasdaq’s payout ratio is currently 44.44%.
A number of analysts have commented on NDAQ shares. Barclays PLC set a $79.00 target price on Nasdaq and gave the stock a “buy” rating in a report on Wednesday, September 7th. Credit Suisse Group AG restated a “buy” rating and issued a $72.00 price target on shares of Nasdaq in a research note on Monday, August 8th. Deutsche Bank AG raised their price target on Nasdaq from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 18th. Evercore ISI downgraded Nasdaq from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $68.00 in a research note on Tuesday, July 5th. Finally, Jefferies Group raised their price target on Nasdaq from $58.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Nasdaq has an average rating of “Hold” and a consensus target price of $69.67.
In related news, insider Pc Nelson Griggs sold 2,945 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.52, for a total value of $210,626.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward S. Knight sold 19,555 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $70.40, for a total transaction of $1,376,672.00. Following the completion of the transaction, the insider now directly owns 76,407 shares in the company, valued at $5,379,052.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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