Nasdaq, Inc. $NDAQ Holdings Trimmed by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Nasdaq, Inc. by 36.0%, selling 71,896 shares and leaving them with 128,039 shares valued at approximately $11.45 million.
• NDAQ reported $0.85 earnings per share for the last quarter, surpassing the estimated $0.78 EPS and achieving a year-over-year revenue growth of 12.7%.
• Analyst ratings for Nasdaq recently improved, with UBS raising its rating from "neutral" to "buy" and increasing the target price from $95.00 to $115.00.

Public Employees Retirement System of Ohio trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 36.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,039 shares of the financial services provider's stock after selling 71,896 shares during the period. Public Employees Retirement System of Ohio's holdings in Nasdaq were worth $11,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its stake in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after buying an additional 120 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq during the 1st quarter worth about $26,000. Highline Wealth Partners LLC increased its holdings in shares of 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 acquiring an additional 317 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Nasdaq in the 1st quarter valued at approximately $30,000. Institutional investors own 72.47% of the company's stock.

Insider Buying and Selling at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction dated 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 owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction dated 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 of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,409 shares of company stock valued at $2,223,599 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $87.51 on Friday. The stock has a market cap of $50.21 billion, a P/E ratio of 33.66, a PEG ratio of 1.90 and a beta of 1.02. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a fifty day moving average price of $93.63 and a 200 day moving average price of $84.97. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

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 for 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 business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. Analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Nasdaq's payout ratio is 41.54%.

Analyst Ratings Changes

NDAQ has been the subject of a number of recent analyst reports. UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and upped their target price for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Piper Sandler boosted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Oppenheimer restated an "outperform" rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Citigroup restated a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has an average 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.

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