Nasdaq, Inc. $NDAQ Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its Nasdaq stake by 2.5% in the fourth quarter, bringing its holdings to 1,063,278 shares worth about $103.3 million.
• Nasdaq reported strong first-quarter earnings, with EPS of $0.96 beating estimates and revenue of $2.14 billion topping expectations, while revenue rose 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, and analysts now have a consensus rating of Moderate Buy with a $107.15 price target.

BNP Paribas Financial Markets grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,063,278 shares of the financial services provider's stock after purchasing an additional 26,185 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.19% of Nasdaq worth $103,276,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NDAQ. Norges Bank acquired a new stake in shares of Nasdaq in the fourth quarter valued at approximately $530,100,000. Vanguard Group Inc. grew its position in shares of Nasdaq by 6.9% in the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider's stock valued at $5,275,902,000 after purchasing an additional 3,848,406 shares during the last quarter. State Street Corp grew its position in shares of Nasdaq by 7.7% in the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock valued at $1,735,318,000 after purchasing an additional 1,404,348 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider's stock valued at $2,683,485,000 after purchasing an additional 1,258,964 shares during the last quarter. Finally, Select Equity Group L.P. acquired a new stake in shares of Nasdaq in the second quarter valued at approximately $110,259,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen upgraded shares of Nasdaq from a "hold" rating to a "buy" rating and raised their target price for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 price target on shares of Nasdaq in a research note on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.15.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $92.52 on Monday. The company's fifty day simple moving average is $88.19 and its 200-day simple moving average is $90.05. Nasdaq, Inc. has a 52 week low of $77.09 and a 52 week high of $101.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market cap of $52.32 billion, a PE ratio of 27.87, a P/E/G ratio of 1.85 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm posted $0.79 EPS. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio (DPR) is 32.53%.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 1,323 shares of the firm's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the sale, the senior vice president directly owned 10,089 shares of the company's stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adena T. Friedman sold 113,611 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer directly owned 1,965,751 shares of the company's stock, valued at approximately $167,953,765.44. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 231,002 shares of company stock valued at $20,295,941 in the last 90 days. Company insiders own 0.60% of the company's stock.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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