State of New Jersey Common Pension Fund D Has $10.26 Million Stock Position in Nasdaq, Inc. $NDAQ

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Nasdaq, Inc. by 9.5%, bringing its holdings to $10.26 million after selling 14,116 shares in Q1.
• Nasdaq, Inc. reported a 12.7% year-over-year revenue increase with an EPS of $0.85, surpassing analyst expectations of $0.78.
• The company has announced a quarterly dividend of $0.27 per share, with a 1.1% yield and a payout ratio of 41.54%.

State of New Jersey Common Pension Fund D trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,227 shares of the financial services provider's stock after selling 14,116 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Nasdaq were worth $10,258,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust increased its stake in 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 acquiring an additional 216 shares during the last quarter. Highline Wealth Partners LLC increased its stake in Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 317 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Nasdaq in the first quarter valued at approximately $26,000. First Command Advisory Services Inc. bought a new position in Nasdaq in the first quarter valued at approximately $30,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Nasdaq during the fourth quarter worth $37,000. 72.47% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,022,715.96. Following the completion of the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,409 shares of company stock worth $2,887,839 in the last three months. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NDAQ. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Barclays boosted their target price on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nasdaq presently has an average rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Trading Up 0.8%

NASDAQ:NDAQ traded up $0.7290 during trading hours on Friday, hitting $94.6890. 1,310,281 shares of the company were exchanged, compared to its average volume of 3,286,802. The stock has a market capitalization of $54.33 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.07 and a beta of 1.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a fifty day simple moving average of $91.45 and a 200 day simple moving average of $82.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results 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. The business had revenue of $1.31 billion during 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%.Nasdaq's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.1%. 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.