Cibc World Market Inc. Invests $2.17 Million in Nasdaq, Inc. $NDAQ

Cibc World Market Inc. purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,510 shares of the financial services provider’s stock, valued at approximately $2,168,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Nasdaq during the 2nd quarter worth about $2,931,637,000. State Street Corp boosted its holdings in shares of Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock worth $1,930,808,000 after buying an additional 259,408 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after buying an additional 378,577 shares during the period. Morgan Stanley increased its position in shares of Nasdaq by 62.6% in the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after acquiring an additional 3,567,843 shares in the last quarter. Finally, Harris Associates L P increased its position in shares of Nasdaq by 46.0% in the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock worth $837,425,000 after acquiring an additional 2,716,280 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.7%

NDAQ stock opened at $99.47 on Thursday. The firm has a market cap of $55.60 billion, a PE ratio of 29.00, a PEG ratio of 1.31 and a beta of 0.97. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The company has a fifty day simple moving average of $90.52 and a 200 day simple moving average of $88.22. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results 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. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts anticipate that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Zacks Research upgraded shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $110.30.

Insider Activity

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the sale, the executive vice president directly owned 128,293 shares of the company’s stock, valued at $11,881,214.73. The trade was a 9.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,797 shares of company stock valued at $3,926,319. Insiders own 0.60% of the company’s stock.

Nasdaq Company 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.