Nasdaq, Inc. (NASDAQ:NDAQ) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia lifted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 32.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 309,417 shares of the financial services provider's stock after purchasing an additional 74,976 shares during the quarter. Bank of Nova Scotia owned about 0.05% of Nasdaq worth $23,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Malaga Cove Capital LLC increased its holdings in Nasdaq by 11.3% in the 1st quarter. Malaga Cove Capital LLC now owns 2,956 shares of the financial services provider's stock valued at $224,000 after purchasing an additional 300 shares during the last quarter. R Squared Ltd boosted its position in shares of Nasdaq by 668.7% during the first quarter. R Squared Ltd now owns 5,150 shares of the financial services provider's stock worth $391,000 after buying an additional 4,480 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Nasdaq by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 239,756 shares of the financial services provider's stock valued at $18,188,000 after buying an additional 1,301 shares in the last quarter. SPC Financial Inc. grew its stake in shares of Nasdaq by 7.4% in the first quarter. SPC Financial Inc. now owns 12,040 shares of the financial services provider's stock valued at $913,000 after buying an additional 825 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Nasdaq by 1.8% in the 1st quarter. Baker Avenue Asset Management LP now owns 94,949 shares of the financial services provider's stock valued at $7,203,000 after buying an additional 1,657 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NDAQ shares. Raymond James Financial restated an "outperform" rating and set a $96.00 target price (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Oppenheimer reissued an "outperform" rating and set a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Barclays raised their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their target price on shares of Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and an average target price of $96.63.

Nasdaq Trading Down 1.1%

NDAQ opened at $95.17 on Monday. 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 one year low of $64.33 and a one year high of $97.07. The company has a market cap of $54.61 billion, a P/E ratio of 36.60, a PEG ratio of 2.11 and a beta of 1.00. The business's 50-day simple moving average is $88.29 and its 200-day simple moving average is $81.30.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results 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. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued 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 dividend yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their ownership of the stock. 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 firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider owned 211,405 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 30,304 shares of company stock worth $2,686,833. 0.70% of the stock is owned by company insiders.

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.

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