Nasdaq, Inc. $NDAQ Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Nasdaq, Inc. by 1.9% during the first quarter, holding 206,454 shares valued at approximately $15.66 million after selling 4,095 shares.
• Nasdaq reported a quarterly earnings per share of $0.85, surpassing analysts' estimates of $0.78, with revenue reaching $1.31 billion, reflecting a 12.7% year-over-year increase.
• The firm has declared a quarterly dividend of $0.27 per share, representing an annualized dividend of $1.08, with a current yield of 1.1% and a payout ratio of 41.54%.

Canada Pension Plan Investment Board lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,454 shares of the financial services provider's stock after selling 4,095 shares during the quarter. Canada Pension Plan Investment Board's holdings in Nasdaq were worth $15,662,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NDAQ. State of Wyoming acquired a new position in Nasdaq during the first quarter worth about $181,000. Trexquant Investment LP purchased a new stake in shares of Nasdaq during the 1st quarter worth approximately $5,472,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Nasdaq in the 1st quarter worth approximately $450,000. Ieq Capital LLC increased its stake in Nasdaq by 19.5% in the 1st quarter. Ieq Capital LLC now owns 31,663 shares of the financial services provider's stock valued at $2,402,000 after purchasing an additional 5,161 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Nasdaq by 24.1% during the first quarter. Gamco Investors INC. ET AL now owns 5,093 shares of the financial services provider's stock worth $386,000 after purchasing an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In related news, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was 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. This represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% 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 worth $2,223,599 over the last quarter. 0.70% of the stock is currently owned by insiders.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $94.74 on Tuesday. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company's 50-day moving average is $92.64 and its two-hundred day moving average is $83.36. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. The business 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 was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. Research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Wall Street Analyst Weigh In

Several analysts have weighed in on NDAQ shares. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Oppenheimer reissued 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 report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada increased their price target on shares of Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company 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.

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