NorthCrest Asset Manangement LLC Has $39.12 Million Holdings in Nasdaq, Inc. $NDAQ

Key Points

• NorthCrest Asset Management LLC has reduced its stake in Nasdaq, Inc. by 15.1%, holding approximately $39.12 million, which accounts for 1.1% of its investment portfolio.
• Nasdaq, Inc. reported earnings of $0.85 per share for the last quarter, surpassing estimates and showing a 12.7% increase in year-over-year revenue.
• The company declared a quarterly dividend of $0.27, representing a 1.2% yield, with a payout ratio of 41.54% and the dividend set to be paid on September 26th.

NorthCrest Asset Manangement LLC lowered its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,356 shares of the financial services provider's stock after selling 77,370 shares during the quarter. Nasdaq accounts for about 1.1% of NorthCrest Asset Manangement LLC's holdings, making the stock its 17th largest position. NorthCrest Asset Manangement LLC owned approximately 0.08% of Nasdaq worth $39,122,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NDAQ. Quantinno Capital Management LP raised its holdings in shares of Nasdaq by 15.4% during the fourth quarter. Quantinno Capital Management LP now owns 35,005 shares of the financial services provider's stock valued at $2,706,000 after acquiring an additional 4,676 shares during the period. Vident Advisory LLC grew its position in Nasdaq by 11.0% during the fourth quarter. Vident Advisory LLC now owns 5,227 shares of the financial services provider's stock valued at $404,000 after purchasing an additional 517 shares in the last quarter. Woodline Partners LP purchased a new position in Nasdaq during the fourth quarter valued at approximately $1,921,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nasdaq by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,718,469 shares of the financial services provider's stock valued at $287,475,000 after purchasing an additional 495,036 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new position in Nasdaq during the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Analyst Ratings Changes

NDAQ has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Barclays boosted their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Oppenheimer reissued an "outperform" rating and issued a $101.00 target price (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were 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 directly 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, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction on Friday, July 25th. The stock was 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 of the company's stock, valued at $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,409 shares of company stock worth $2,223,599. 0.70% of the stock is owned by insiders.

Nasdaq Stock Performance

Shares of Nasdaq stock traded up $0.70 on Friday, reaching $89.57. The stock had a trading volume of 13,438,118 shares, compared to its average volume of 3,145,162. The business's 50-day moving average price is $93.76 and its two-hundred day moving average price is $84.52. 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 fifty-two week low of $64.84 and a fifty-two week high of $97.63. The stock has a market cap of $51.39 billion, a P/E ratio of 34.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned $0.69 earnings per share. Nasdaq's revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq's payout ratio is presently 41.54%.

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.