California State Teachers Retirement System Purchases 3,505 Shares of Nasdaq, Inc. $NDAQ

California State Teachers Retirement System raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 654,248 shares of the financial services provider's stock after purchasing an additional 3,505 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Nasdaq worth $51,567,827 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. BlackRock Inc. bought a new position in shares of Nasdaq during the 2nd quarter worth about $2,931,637,000. Bank of America Corp DE bought a new position in shares of Nasdaq in the second quarter worth approximately $603,631,000. Norges Bank bought a new position in shares of Nasdaq in the 4th quarter valued at about $530,100,000. The Manufacturers Life Insurance Company purchased a new position in shares of Nasdaq during the second quarter valued at $377,818,000. Finally, Legal & General Group Plc acquired a new stake in Nasdaq during the 2nd quarter valued at approximately $220,130,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 1,125 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.22, for a total value of $105,997.50. Following the completion of the transaction, the executive vice president directly owned 101,198 shares in the company, valued at $9,534,875.56. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 42,922 shares of company stock worth $4,032,316. 0.60% of the stock is currently owned by company insiders.

Nasdaq Price Performance

NDAQ stock traded down $2.19 during mid-day trading on Tuesday, reaching $89.38. 998,367 shares of the company's stock were exchanged, compared to its average volume of 3,846,228. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79. The company has a market cap of $49.96 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97. The stock's 50 day moving average is $94.27 and its 200 day moving average is $89.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. Nasdaq's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. On average, research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq's payout ratio is presently 36.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research note on Thursday, June 11th. Zacks Research raised Nasdaq from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Barclays reaffirmed an "overweight" rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Finally, Raymond James Financial restated an "outperform" rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $110.30.

Nasdaq Company Profile

Nasdaq, Inc NASDAQ: NDAQ operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq's businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.

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