CIBC Asset Management Inc Acquires 48,244 Shares of Nasdaq, Inc. $NDAQ

CIBC Asset Management Inc raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,484 shares of the financial services provider's stock after purchasing an additional 48,244 shares during the period. CIBC Asset Management Inc's holdings in Nasdaq were worth $18,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NDAQ. Vanguard Group Inc. increased its stake in shares of Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider's stock valued at $5,819,727,000 after buying an additional 268,481 shares during the period. Massachusetts Financial Services Co. MA increased its position in Nasdaq by 4.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider's stock valued at $2,683,485,000 after purchasing an additional 1,258,964 shares during the period. State Street Corp raised its holdings in Nasdaq by 7.7% during the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock worth $1,735,318,000 after purchasing an additional 1,404,348 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nasdaq by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock worth $1,243,807,000 after purchasing an additional 378,577 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Nasdaq in the 4th quarter worth approximately $530,100,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares in the company, valued at approximately $896,104.98. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cohen Tal sold 15,518 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the sale, the insider directly owned 215,208 shares of the company's stock, valued at $19,530,126. This trade represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 138,162 shares of company stock valued at $11,932,913. 0.60% of the stock is currently owned by corporate insiders.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $88.45 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79. The company has a fifty day moving average of $88.45 and a 200-day moving average of $90.08. The firm has a market capitalization of $50.02 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.73 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq's revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be 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 is Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Nasdaq's payout ratio is currently 32.53%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NDAQ. Raymond James Financial reiterated an "outperform" rating and set a $109.00 price objective on shares of Nasdaq in a research report on Wednesday, February 25th. Loop Capital set a $113.00 target price on shares of Nasdaq in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. TD Cowen upgraded Nasdaq from a "hold" rating to a "buy" rating and increased their price target for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. Finally, Barclays lifted their price objective on Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Nasdaq currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.15.

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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