Calamos Advisors LLC Invests $7.29 Million in Nasdaq, Inc. $NDAQ

Key Points

• Calamos Advisors LLC opened a new position in Nasdaq, Inc., buying 85,920 shares valued at about $7.29 million in the first quarter.
• Nasdaq reported strong quarterly results, with EPS of $0.96 versus estimates of $0.93 and revenue of $2.14 billion, up 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, bringing the annualized payout to $1.24 and the yield to about 1.4%.

Calamos Advisors LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 85,920 shares of the financial services provider's stock, valued at approximately $7,294,000.

Several other hedge funds also recently added to or reduced their stakes in NDAQ. Norges Bank purchased a new stake in Nasdaq in the 4th quarter worth about $530,100,000. Morgan Stanley boosted its position in shares of Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after buying an additional 3,567,843 shares during the period. Nuveen LLC boosted its position in shares of Nasdaq by 82.0% during the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider's stock valued at $589,897,000 after buying an additional 2,736,322 shares during the period. Harris Associates L P grew its stake in shares of Nasdaq by 46.0% during the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider's stock valued at $837,425,000 after buying an additional 2,716,280 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock valued at $1,735,318,000 after buying an additional 1,404,348 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ opened at $88.01 on Wednesday. The firm's 50 day simple moving average is $87.12 and its 200-day simple moving average is $88.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The firm has a market cap of $49.77 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. Nasdaq's quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities analysts predict that Nasdaq, Inc. will post 3.91 EPS for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.31 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Nasdaq's dividend payout ratio is presently 37.35%.

Insider Transactions at Nasdaq

In other news, insider Cohen Tal sold 15,518 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the transaction, the insider owned 215,208 shares in the company, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ab Investor purchased 56,782 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were purchased 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 of the company's stock, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 24,551 shares of company stock valued at $2,225,990 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Barclays cut their price objective on Nasdaq from $114.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Loop Capital set a $113.00 target price on Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $107.42.

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.

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