Ramirez Asset Management Inc. Buys 12,269 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Ramirez Asset Management Inc. increased its stake in Nasdaq, Inc. by 385.6% during Q2, acquiring 12,269 additional shares, bringing its total to 15,451 shares, valued at approximately $1.38 million.
• Nasdaq reported earnings per share (EPS) of $0.85 for the last quarter, exceeding analyst expectations of $0.78, alongside a revenue of $1.31 billion, up 12.7% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, amounting to an annualized dividend yield of 1.2%, with a payout ratio currently at 41.54%.

Ramirez Asset Management Inc. grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 385.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,451 shares of the financial services provider's stock after purchasing an additional 12,269 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Nasdaq were worth $1,382,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Nasdaq by 0.8% in the first quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock valued at $4,019,037,000 after purchasing an additional 403,248 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Nasdaq by 5.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after acquiring an additional 993,553 shares during the period. Harris Associates L P boosted its position in Nasdaq by 1.2% in the first quarter. Harris Associates L P now owns 8,693,469 shares of the financial services provider's stock worth $659,487,000 after purchasing an additional 101,983 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Nasdaq by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider's stock worth $438,854,000 after purchasing an additional 484,750 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after purchasing an additional 1,592,057 shares during the period. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $91.40 on Friday. The firm has a market cap of $52.44 billion, a PE ratio of 35.15, a PEG ratio of 2.04 and a beta of 0.98. The stock's fifty day moving average price is $92.81 and its two-hundred day moving average price is $85.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities 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. Investors of record on Friday, September 12th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq's payout ratio is presently 41.54%.

Insiders Place Their Bets

In related news, 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 sale, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president 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 own 0.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NDAQ shares. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 target price (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Barclays reaffirmed an "overweight" rating and set a $108.00 target price (down from $109.00) on shares of Nasdaq in a research report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Piper Sandler raised their target price on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $97.25.

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.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.