Credit Agricole S A Grows Stake in Nasdaq, Inc. $NDAQ

Key Points

• Credit Agricole S A increased its stake in Nasdaq, Inc. by 3.0%, holding approximately $26.4 million, with 347,983 shares following the acquisition of an additional 10,070 shares in the first quarter.
• Nasdaq reported quarterly earnings of $0.85 per share, surpassing the expected $0.78, alongside a 12.7% year-over-year revenue growth, bringing in $1.31 billion for the quarter.
• The company declared a quarterly dividend of $0.27, with an annualized yield of 1.2%, while insider trading activity showed significant share sales by executives in recent months.

Credit Agricole S A increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347,983 shares of the financial services provider's stock after purchasing an additional 10,070 shares during the quarter. Credit Agricole S A owned approximately 0.06% of Nasdaq worth $26,398,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its position in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares in the last quarter. Highline Wealth Partners LLC increased its stake in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the 1st quarter worth $26,000. First Command Advisory Services Inc. acquired a new stake in shares of Nasdaq in the 1st quarter worth $30,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Nasdaq in the 4th quarter worth $37,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Trading Up 0.8%

Shares of NASDAQ NDAQ traded up $0.79 during mid-day trading on Friday, reaching $94.75. 2,038,358 shares of the company's stock were exchanged, compared to its average volume of 3,088,078. The firm has a market capitalization of $54.37 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The company's 50-day moving average is $91.63 and its 200-day moving average is $82.80.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. Analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.1%. Nasdaq's dividend payout ratio is presently 41.54%.

Analysts Set New Price Targets

NDAQ has been the subject of a number of recent research reports. Barclays raised their target price on Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $101.00 target price (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the sale, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This trade represents a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the sale, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,409 shares of company stock worth $2,887,839 in the last 90 days. Insiders own 0.70% of the company's stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.