Flputnam Investment Management Co. Invests $2.15 Million in Nasdaq, Inc. $NDAQ

Flputnam Investment Management Co. bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent filing with the SEC. The firm bought 27,254 shares of the financial services provider’s stock, valued at approximately $2,148,000.

Other hedge funds have also bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of Nasdaq in the fourth quarter valued at $28,000. Nemes Rush Group LLC acquired a new position in shares of Nasdaq during the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the fourth quarter worth about $35,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Nasdaq during the fourth quarter worth about $37,000. Finally, Signature Equity Partners LLC increased its position in shares of Nasdaq by 60.3% during the first quarter. Signature Equity Partners LLC now owns 473 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NDAQ. TD Cowen restated a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Raymond James Financial reiterated an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $120.00 price objective on shares of Nasdaq in a report on Friday, July 24th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $110.30.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $96.68 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $89.07 and a 200-day moving average of $87.99. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company has a market cap of $54.04 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.31 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is currently 36.15%.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Ab Investor bought 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the transaction, the insider directly owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,797 shares of company stock worth $3,926,319 in the last 90 days. Insiders own 0.60% of the company’s stock.

About Nasdaq

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.