Intech Investment Management LLC Has $2.66 Million Stock Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Intech Investment Management LLC reduced its holdings in Nasdaq, Inc. by 35.5%, selling 19,309 shares and leaving it with 35,052 shares valued at approximately $2.66 million.
• Nasdaq reported quarterly earnings of $0.85 per share, exceeding the estimated $0.78, with revenues of $1.31 billion, marking a 12.7% year-over-year increase.
• Nasdaq's stock has a current consensus rating of "Moderate Buy" from analysts, with a target price averaging $97.06.

Intech Investment Management LLC lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 35.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,052 shares of the financial services provider's stock after selling 19,309 shares during the quarter. Intech Investment Management LLC's holdings in Nasdaq were worth $2,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Nasdaq in the first quarter valued at about $241,614,000. Invesco Ltd. increased its position in Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after purchasing an additional 1,592,057 shares during the period. GAMMA Investing LLC lifted 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. Massachusetts Financial Services Co. MA lifted its stake in Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock valued at $1,550,115,000 after acquiring an additional 993,553 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Nasdaq by 104.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock valued at $125,574,000 after purchasing an additional 845,725 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The transaction 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 Nasdaq stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company's stock, valued at approximately $829,742.55. The trade was a 49.46% decrease in their position. 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. Corporate insiders own 0.70% of the company's stock.

Nasdaq Price Performance

Shares of Nasdaq stock traded down $0.32 during trading on Tuesday, hitting $92.54. 5,223,300 shares of the company were exchanged, compared to its average volume of 2,570,262. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 2.03 and a beta of 1.02. The firm has a 50 day moving average price of $93.73 and a 200 day moving average price of $84.34. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (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 the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NDAQ shares. Oppenheimer restated an "outperform" rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Piper Sandler raised their price target on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Morgan Stanley raised their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.