346,000 Shares in Nasdaq, Inc. $NDAQ Bought by Strs Ohio

Key Points

• Strs Ohio acquired 346,000 shares of Nasdaq, Inc. valued at approximately $26.25 million during the first quarter, indicating growing institutional interest in the financial services firm.
• Analysts have been optimistic about Nasdaq, with several upgrading their price targets; Raymond James set a new target at $96.00, while Barclays increased theirs to $109.00.
• Nasdaq has declared a quarterly dividend of $0.27 per share, with an annual yield of 1.1%; the dividend will be paid on September 26 to investors of record as of September 12.

Strs Ohio purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 346,000 shares of the financial services provider's stock, valued at approximately $26,248,000. Strs Ohio owned approximately 0.06% of Nasdaq at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Grove Bank & Trust raised its position in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares in the last quarter. Highline Wealth Partners LLC raised its position in Nasdaq by 1,509.5% during the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Nasdaq during the first quarter worth $26,000. First Command Advisory Services Inc. bought a new stake in Nasdaq during the first quarter worth $30,000. Finally, AlphaQuest LLC bought a new stake in Nasdaq during the first quarter worth $34,000. 72.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,409 shares of company stock valued at $2,223,599. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Barclays increased their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Nasdaq Price Performance

Shares of NDAQ opened at $93.95 on Friday. The firm has a market capitalization of $53.91 billion, a PE ratio of 36.13, a PEG ratio of 2.10 and a beta of 1.02. The company's 50-day moving average is $93.60 and its 200-day moving average is $84.16. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

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

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

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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