Nasdaq Inc. (NDAQ) Stake Raised by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in Nasdaq Inc. (NASDAQ:NDAQ) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,508 shares of the company’s stock after buying an additional 759 shares during the period. Victory Capital Management Inc.’s holdings in Nasdaq were worth $1,068,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC increased its stake in shares of Nasdaq by 166.2% in the second quarter. Advisory Services Network LLC now owns 2,068 shares of the company’s stock valued at $134,000 after buying an additional 1,291 shares in the last quarter. IFP Advisors Inc increased its position in Nasdaq by 4.6% in the first quarter. IFP Advisors Inc now owns 3,114 shares of the company’s stock valued at $207,000 after buying an additional 137 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Nasdaq during the first quarter valued at approximately $226,000. BKD Wealth Advisors LLC increased its position in Nasdaq by 10.8% in the second quarter. BKD Wealth Advisors LLC now owns 4,038 shares of the company’s stock valued at $261,000 after buying an additional 395 shares in the last quarter. Finally, Conning Inc. increased its position in Nasdaq by 5.2% in the second quarter. Conning Inc. now owns 4,036 shares of the company’s stock valued at $261,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 74.20% of the company’s stock.
Shares of Nasdaq Inc. (NASDAQ:NDAQ) traded down 0.07% during midday trading on Thursday, reaching $70.62. The company’s stock had a trading volume of 182,881 shares. Nasdaq Inc. has a 52-week low of $50.98 and a 52-week high of $71.92. The stock has a 50-day moving average price of $70.37 and a 200-day moving average price of $66.45. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 24.45 and a beta of 0.77.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The firm earned $559 million during the quarter, compared to analysts’ expectations of $548 million. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Nasdaq Inc. will post $3.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, September 14th. Nasdaq’s payout ratio is currently 44.44%.
NDAQ has been the subject of several research reports. Deutsche Bank AG reiterated a “buy” rating on shares of Nasdaq in a research report on Saturday, June 4th. Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reiterated a “buy” rating and issued a $68.00 target price on shares of Nasdaq in a research report on Wednesday, June 29th. Evercore ISI downgraded Nasdaq from a “buy” rating to a “hold” rating and dropped their target price for the company from $69.00 to $68.00 in a research report on Tuesday, July 5th. Finally, Barclays PLC dropped their target price on Nasdaq from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.67.
In other news, EVP Thomas A. Wittman sold 24,893 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total value of $1,669,822.44. Following the completion of the sale, the executive vice president now owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 2,945 shares of the business’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 disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
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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