Bank of Nova Scotia purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 111,327 shares of the financial services provider's stock, valued at approximately $8,775,000.
Other institutional investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Nasdaq during the 4th quarter valued at $28,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter worth $35,000. Uniplan Investment Counsel Inc. bought a new position in shares of Nasdaq during the 4th quarter worth $35,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the fourth quarter valued at $37,000. Finally, Reflection Asset Management purchased a new position in shares of Nasdaq during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 72.47% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on NDAQ. Morgan Stanley reaffirmed an "overweight" rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday, July 24th. TD Cowen reissued a "buy" rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a report on Monday, July 20th. Zacks Research raised shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $110.30.
View Our Latest Research Report on Nasdaq
Insiders Place Their Bets
In other news, major shareholder Ab Investor purchased 56,782 shares of the company's stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction dated 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 in the company, valued at $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. In the last 90 days, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is owned by company insiders.
Nasdaq Trading Up 0.6%
NASDAQ:NDAQ opened at $98.79 on Tuesday. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.30 and a beta of 0.96. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week 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. The firm has a 50 day moving average of $90.00 and a 200 day moving average of $88.05.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued 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. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.
Nasdaq Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a yield of 1.3%. Nasdaq's payout ratio is currently 36.15%.
Nasdaq Profile
(
Free Report)
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.
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