Nasdaq, Inc. $NDAQ Stake Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Nasdaq stake by 4.8% in the second quarter, bringing its holdings to 3.88 million shares valued at approximately $306.1 million. Institutional investors collectively own 72.47% of Nasdaq.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $110.30. Recent targets range from $105 to $120.
• Nasdaq exceeded quarterly earnings expectations, reporting $1.07 in EPS versus the $0.98 consensus, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share, implying a 1.3% yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,884,101 shares of the financial services provider's stock after buying an additional 177,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.69% of Nasdaq worth $306,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Nasdaq during the 2nd quarter valued at $2,931,637,000. State Street Corp grew its stake in shares of Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider's stock worth $1,930,808,000 after purchasing an additional 259,408 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock valued at $1,243,807,000 after purchasing an additional 378,577 shares during the period. Morgan Stanley increased its holdings in shares of Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after purchasing an additional 3,567,843 shares during the period. Finally, Harris Associates L P raised its stake in shares of Nasdaq by 46.0% during the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider's stock valued at $837,425,000 after purchasing an additional 2,716,280 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NDAQ shares. Morgan Stanley restated an "overweight" rating and set a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Zacks Research upgraded shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research report on Thursday, June 11th. TD Cowen reiterated a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $110.30.

Nasdaq Trading Down 0.7%

Nasdaq stock opened at $98.61 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $55.12 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The firm's 50 day moving average price is $91.52 and its two-hundred day moving average price is $88.53.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, research analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq's dividend payout ratio is currently 36.15%.

Insider Activity

In related news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the business's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president owned 128,293 shares in the company, valued at $11,881,214.73. This represents a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,797 shares of company stock valued at $3,926,319 over the last three months. Insiders own 0.60% of the company's stock.

About Nasdaq

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source