Patton Fund Management Inc. Takes $261,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• Patton Fund Management Inc. acquired a new position in Nasdaq, purchasing 2,922 shares valued at approximately $261,000 during the 2nd quarter.
• Nasdaq's latest quarterly earnings report showed earnings per share (EPS) of $0.85, exceeding estimates by $0.07, with revenue growing 12.7% year-over-year.
• The company recently announced a quarterly dividend of $0.27 per share, resulting in an annualized dividend yield of 1.2%.

Patton Fund Management Inc. bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,922 shares of the financial services provider's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. CX Institutional grew its stake in shares of Nasdaq by 19.4% during the second quarter. CX Institutional now owns 3,349 shares of the financial services provider's stock worth $299,000 after acquiring an additional 545 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Nasdaq by 12.3% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 743,463 shares of the financial services provider's stock worth $66,480,000 after purchasing an additional 81,621 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in Nasdaq during the 2nd quarter worth approximately $217,000. TD Private Client Wealth LLC increased its stake in Nasdaq by 89.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,045 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 494 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Nasdaq by 8.6% in the second quarter. Mather Group LLC. now owns 4,241 shares of the financial services provider's stock worth $379,000 after buying an additional 336 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Up 0.9%

NDAQ stock opened at $87.51 on Friday. The firm has a market cap of $50.21 billion, a PE ratio of 33.66, a P/E/G ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The firm's fifty day moving average is $93.63 and its 200 day moving average is $85.05. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The company 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 firm's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.27 per share. 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 dividend payout ratio (DPR) is presently 41.54%.

Analyst Ratings Changes

NDAQ has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and raised their target price for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares of the company's stock, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction on 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 in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock valued at $2,223,599 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

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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