111 Capital Buys 4,450 Shares of Nasdaq, Inc. $NDAQ

Key Points

• 111 Capital increased its stake in Nasdaq, Inc. by 67.0%, acquiring an additional 4,450 shares, bringing its total holdings to 11,089 shares valued at approximately $992,000.
• Nasdaq reported a 12.7% year-over-year increase in revenue, totaling $1.31 billion, and exceeded earnings expectations with an EPS of $0.85 for the quarter.
• Analysts have a consensus target price of $97.31 for Nasdaq stock, with 15 ratings as a "Buy" and three as "Hold." Barclays and Deutsche Bank have both recently upgraded their price targets for the stock.

111 Capital grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 67.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,089 shares of the financial services provider's stock after acquiring an additional 4,450 shares during the period. 111 Capital's holdings in Nasdaq were worth $992,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NDAQ. QRG Capital Management Inc. boosted its holdings in shares of Nasdaq by 53.1% in the second quarter. QRG Capital Management Inc. now owns 59,504 shares of the financial services provider's stock valued at $5,321,000 after purchasing an additional 20,637 shares during the period. Fortis Capital Advisors LLC increased its holdings in Nasdaq by 3.5% during the 2nd quarter. Fortis Capital Advisors LLC now owns 12,949 shares of the financial services provider's stock worth $1,158,000 after purchasing an additional 439 shares during the period. Ascent Group LLC raised its position in Nasdaq by 33.5% during the 2nd quarter. Ascent Group LLC now owns 48,809 shares of the financial services provider's stock valued at $4,365,000 after purchasing an additional 12,246 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Nasdaq in the 2nd quarter worth $72,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Nasdaq by 13.3% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,678 shares of the financial services provider's stock worth $1,938,000 after buying an additional 2,547 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $87.61 on Friday. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market cap of $50.27 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The business has a 50-day simple moving average of $93.31 and a 200-day simple moving average of $85.52.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.69 earnings per share. Nasdaq's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq's dividend payout ratio is 41.54%.

Insider Transactions at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company's stock, valued at $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NDAQ. Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Barclays upped their price target on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a report on Saturday, September 27th. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.31.

Nasdaq Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.

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