Cubist Systematic Strategies LLC Takes $21.73 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Cubist Systematic Strategies LLC has made a new investment in Nasdaq, Inc., purchasing 286,400 shares valued at approximately $21.73 million during the first quarter.
• Wall Street analysts generally have a favorable outlook on Nasdaq, with a consensus rating of "Moderate Buy" and raised price targets from several firms, including Royal Bank of Canada's new target of $108.00.
• Nasdaq, Inc. reported a quarterly earnings per share (EPS) of $0.85, surpassing analyst estimates, alongside a revenue increase of 12.7% compared to the prior year.

Cubist Systematic Strategies LLC bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 286,400 shares of the financial services provider's stock, valued at approximately $21,726,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NDAQ. Nuveen LLC purchased a new position in Nasdaq during the first quarter worth about $241,614,000. Ameriprise Financial Inc. grew its position in Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after buying an additional 1,650,201 shares in the last quarter. Invesco Ltd. grew its position in Nasdaq by 40.8% during the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock worth $416,795,000 after buying an additional 1,592,057 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Nasdaq by 7,367.6% in the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock worth $85,671,000 after purchasing an additional 1,114,205 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Nasdaq by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Up 0.2%

Shares of NASDAQ:NDAQ traded up $0.18 during trading on Wednesday, hitting $93.77. The stock had a trading volume of 1,831,488 shares, compared to its average volume of 2,422,332. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market capitalization of $53.80 billion, a PE ratio of 36.07, a PEG ratio of 2.08 and a beta of 1.02. The firm's fifty day moving average is $92.87 and its 200 day moving average is $83.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

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

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq's dividend payout ratio is presently 41.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley boosted their target price on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Nasdaq presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,409 shares of company stock worth $2,223,599. Insiders own 0.70% of the company's stock.

About Nasdaq

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.