Federated Hermes Inc. Increases Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Federated Hermes Inc. increased its position in Nasdaq, Inc. by 1,197.1% in the 1st quarter, holding a total of 20,299 shares valued at approximately $1.54 million.
• Nasdaq's latest quarterly earnings surpassed estimates, reporting an EPS of $0.85 and quarterly revenue of $1.31 billion, a 12.7% increase year-over-year.
• The company will pay a quarterly dividend of $0.27 per share on September 26, with a current annualized dividend yield of 1.1%.

Federated Hermes Inc. boosted its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1,197.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,299 shares of the financial services provider's stock after buying an additional 18,734 shares during the period. Federated Hermes Inc.'s holdings in Nasdaq were worth $1,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NDAQ. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the last quarter. Highline Wealth Partners LLC increased its stake in Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Nasdaq in the first quarter worth about $26,000. First Command Advisory Services Inc. bought a new position in shares of Nasdaq in the first quarter worth approximately $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Nasdaq in the fourth quarter worth approximately $37,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

NDAQ stock traded up $0.40 during midday trading on Friday, reaching $96.85. 2,570,080 shares of the company's stock traded hands, compared to its average volume of 3,597,520. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.47. The stock has a market cap of $55.57 billion, a P/E ratio of 37.25, a PEG ratio of 2.13 and a beta of 1.00. The stock's 50-day moving average is $89.67 and its 200 day moving average is $81.87.

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

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq's dividend payout ratio is presently 41.54%.

Insider Buying and Selling

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company's stock, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,409 shares of company stock worth $2,887,839. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

NDAQ has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their target price for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Raymond James Financial restated an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Nasdaq presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq 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.