Canada Pension Plan Investment Board Makes New $53.42 Million Investment in Nasdaq, Inc. $NDAQ

Key Points

• Canada Pension Plan Investment Board acquired 677,704 Nasdaq shares worth approximately $53.42 million, giving it a 0.12% stake. Institutional investors collectively own 72.47% of the company.
• Nasdaq reported quarterly EPS of $1.07, beating estimates of $0.98, while revenue reached $2.53 billion and rose 14.9% year over year.
• Analysts maintain a favorable outlook, with Nasdaq holding an average “Buy” rating and a consensus price target of $110.30 versus its reported market price of $99.35. The company also declared a quarterly dividend of $0.31 per share.

Canada Pension Plan Investment Board purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 677,704 shares of the financial services provider's stock, valued at approximately $53,417,000. Canada Pension Plan Investment Board owned about 0.12% of Nasdaq at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NDAQ. Fiduciary Financial Advisors purchased a new position in Nasdaq in the second quarter worth $25,000. MV Capital Management Inc. bought a new position in Nasdaq in the fourth quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in Nasdaq during the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. purchased a new stake in Nasdaq during the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in Nasdaq during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Trading Down 0.1%

NASDAQ NDAQ opened at $99.35 on Friday. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day simple moving average of $90.86 and a two-hundred day simple moving average of $88.33. The stock has a market cap of $55.53 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

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

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.2%. Nasdaq's payout ratio is 36.15%.

Insider Activity at Nasdaq

In other news, insider Pc Nelson Griggs sold 11,010 shares of the firm's 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 sale, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor bought 56,782 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 41,797 shares of company stock worth $3,926,319 over the last quarter. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NDAQ. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a report on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Finally, Zacks Research upgraded shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Nasdaq currently has an average rating of "Buy" and an average target price of $110.30.

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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