Price T Rowe Associates Inc. MD Purchases 5,114 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Price T Rowe Associates Inc. boosted its position in Nasdaq, acquiring an additional 5,114 shares, increasing its total ownership to 594,149 shares, valued at approximately $45 million.
• Wall Street analysts have issued positive ratings for Nasdaq, with multiple firms raising their price targets; for instance, Barclays increased its target from $101 to $109, maintaining an "overweight" rating.
• Nasdaq reported strong quarterly earnings with $0.85 EPS, exceeding expectations, and announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 1.1%.

Price T Rowe Associates Inc. MD boosted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,149 shares of the financial services provider's stock after acquiring an additional 5,114 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.10% of Nasdaq worth $45,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestcor Inc raised its position in Nasdaq by 1.6% during the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after acquiring an additional 141 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Nasdaq by 1.0% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock valued at $1,260,000 after purchasing an additional 157 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Nasdaq by 7.1% in the first quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 187 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Finally, Compass Capital Corp MA ADV increased its holdings in shares of Nasdaq by 1.4% in the first quarter. Compass Capital Corp MA ADV now owns 15,995 shares of the financial services provider's stock valued at $1,201,000 after purchasing an additional 216 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several research reports. Raymond James Financial reiterated 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. Barclays upped their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Piper Sandler upped their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Trading Down 0.1%

Shares of Nasdaq stock opened at $94.84 on Thursday. The company has a market capitalization of $54.42 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.08 and a beta of 1.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm's 50-day moving average price is $92.13 and its two-hundred day moving average price is $83.04.

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

Nasdaq Announces Dividend

The company also recently disclosed 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 yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio is presently 41.54%.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the sale, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, the senior vice president owned 8,879 shares in the company, 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. Insiders have sold 24,409 shares of company stock worth $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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