Canada Pension Plan Investment Board Takes Position in Nasdaq, Inc. $NDAQ

Canada Pension Plan Investment Board purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 677,704 shares of the financial services provider’s stock, valued at approximately $53,417,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Independent Advisor Alliance lifted its position in Nasdaq by 2.6% during the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock valued at $444,000 after buying an additional 117 shares during the period. Quantum Portfolio Management LLC grew its position in shares of Nasdaq by 1.8% in the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock worth $606,000 after buying an additional 123 shares during the period. Avidian Wealth Enterprises LLC increased its stake in shares of Nasdaq by 5.2% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 133 shares in the last quarter. Fielder Capital Group LLC increased its stake in shares of Nasdaq by 3.1% in the 4th quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 137 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Nasdaq by 2.5% during the 1st quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 137 shares during the period. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 0.1%

Shares of Nasdaq stock opened at $99.35 on Friday. The company has a market cap of $55.53 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. The company’s 50 day moving average is $90.86 and its 200 day moving average is $88.33. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.Nasdaq’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. Research analysts anticipate that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is currently 36.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NDAQ shares. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Zacks Research upgraded Nasdaq from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Nasdaq in a research report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research note on Thursday, June 11th. Finally, TD Cowen reissued 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Nasdaq presently has a consensus rating of “Buy” and a consensus target price of $110.30.

Insider Transactions at Nasdaq

In related news, major shareholder Ab Investor bought 56,782 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the acquisition, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was 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 in the company, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,797 shares of company stock worth $3,926,319 in the last 90 days. 0.60% of the stock is currently owned by insiders.

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.