GQG Partners LLC Takes $50.11 Million Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• GQG Partners LLC has acquired 660,595 shares of Nasdaq, Inc., valued at approximately $50.1 million, representing around 0.12% ownership of the company.
• Recent analysis shows a favorable outlook for Nasdaq, with four hold ratings and fourteen buy ratings from investment analysts, contributing to a consensus price target of $97.06.
• Nasdaq reported a quarterly EPS of $0.85, exceeding estimates, with a revenue increase of 12.7% year-over-year.

GQG Partners LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 660,595 shares of the financial services provider's stock, valued at approximately $50,113,000. GQG Partners LLC owned about 0.12% of Nasdaq as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NDAQ. Advisory Services Network LLC raised its holdings in Nasdaq by 55.7% during the 4th quarter. Advisory Services Network LLC now owns 6,494 shares of the financial services provider's stock worth $502,000 after purchasing an additional 2,324 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Nasdaq by 10.0% in the 4th quarter. Townsquare Capital LLC now owns 11,038 shares of the financial services provider's stock valued at $853,000 after acquiring an additional 1,002 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Nasdaq in the 4th quarter valued at $251,000. Advisors Capital Management LLC increased its stake in shares of Nasdaq by 26.0% in the 4th quarter. Advisors Capital Management LLC now owns 3,766 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 776 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in shares of Nasdaq by 26.4% in the 4th quarter. Belpointe Asset Management LLC now owns 19,703 shares of the financial services provider's stock valued at $1,420,000 after acquiring an additional 4,111 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Down 0.2%

NASDAQ:NDAQ traded down $0.17 on Thursday, hitting $95.40. The stock had a trading volume of 2,459,288 shares, compared to its average volume of 3,719,879. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $54.74 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The firm's fifty day simple moving average is $90.64 and its two-hundred day simple moving average is $82.28.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Analysts predict that Nasdaq, Inc. will post 3.18 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 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's payout ratio is 41.54%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NDAQ. Piper Sandler lifted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the transaction, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,409 shares of company stock valued at $2,887,839 over the last quarter. Corporate 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.