Raub Brock Capital Management LP Buys Shares of 158,068 Nasdaq, Inc. $NDAQ

Key Points

• Raub Brock Capital Management LP has acquired 158,068 shares of Nasdaq, Inc., valued at approximately $14.1 million, making it the firm's 19th largest position.
• Nasdaq reported earnings of $0.85 per share for the last quarter, exceeding estimates of $0.78, with revenues of $1.31 billion, a 12.7% increase compared to the previous year.
• Institutional investors own 72.47% of Nasdaq's stock, with recent significant purchases, including a notable investment of $241.6 million by Nuveen LLC in the first quarter.

Raub Brock Capital Management LP bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 158,068 shares of the financial services provider's stock, valued at approximately $14,134,000. Nasdaq accounts for 3.1% of Raub Brock Capital Management LP's holdings, making the stock its 19th largest position.

A number of other institutional investors also recently modified their holdings of NDAQ. Nuveen LLC bought a new position in shares of Nasdaq during the 1st quarter valued at $241,614,000. Invesco Ltd. raised its holdings in shares of Nasdaq by 40.8% during 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock valued at $1,550,115,000 after purchasing an additional 993,553 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Nasdaq by 104.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock valued at $125,574,000 after purchasing an additional 845,725 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Nasdaq by 2,462.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider's stock valued at $59,797,000 after purchasing an additional 757,488 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $88.44 on Wednesday. The firm's 50-day moving average is $93.02 and its 200-day moving average is $85.68. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. 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 company has a market cap of $50.75 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.01 and a beta of 0.98.

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

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq's payout ratio is 41.54%.

Insider Activity

In other news, EVP Jeremy Skule sold 2,105 shares of Nasdaq 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 approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The shares were 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 approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NDAQ. Keefe, Bruyette & Woods raised their price target on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Oppenheimer reiterated an "outperform" rating and issued a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a report on Saturday, September 27th. Piper Sandler lifted their target price on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Morgan Stanley set a $90.00 target price on shares of Nasdaq and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq has a consensus rating of "Moderate Buy" and an average target price of $97.31.

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.

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