Sterling Capital Management LLC Sells 20,469 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Sterling Capital Management reduced its Nasdaq holdings by 8.4%, selling 20,469 shares and retaining 224,131 shares valued at approximately $20.6 million. Institutional investors collectively own 72.47% of NDAQ.
• Nasdaq’s third-quarter results exceeded expectations, with adjusted EPS of $1.04 versus the $1.02 consensus and net revenue up 13% year over year. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $113.53.
• NDAQ traded at $102.56, near its 52-week high of $104.21, while the company maintained its quarterly dividend at $0.31 per share, equivalent to a 1.2% annual yield. Insider selling and a valuation near 28 times earnings may weigh on further gains.

Sterling Capital Management LLC reduced its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,131 shares of the financial services provider's stock after selling 20,469 shares during the quarter. Sterling Capital Management LLC's holdings in Nasdaq were worth $20,622,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NDAQ. CWA Asset Management Group LLC lifted its stake in Nasdaq by 2.9% in the third quarter. CWA Asset Management Group LLC now owns 3,831 shares of the financial services provider's stock valued at $353,000 after buying an additional 108 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Nasdaq by 2.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,633 shares of the financial services provider's stock worth $426,000 after buying an additional 118 shares during the period. Quantum Portfolio Management LLC boosted its position in shares of Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider's stock worth $606,000 after buying an additional 123 shares during the period. Arkadios Wealth Advisors grew its holdings in shares of Nasdaq by 2.5% during the first quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider's stock worth $479,000 after buying an additional 137 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its holdings in shares of Nasdaq by 5.9% during the first quarter. AlphaCentric Advisors LLC now owns 2,603 shares of the financial services provider's stock worth $221,000 after buying an additional 145 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NDAQ shares. Morgan Stanley boosted their target price on Nasdaq from $118.00 to $132.00 and gave the company an "overweight" rating in a research note on Friday. The Goldman Sachs Group raised their price target on shares of Nasdaq from $109.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday. Barclays set a $121.00 price objective on shares of Nasdaq and gave the company an "overweight" rating in a report on Friday. Raymond James Financial cut their price objective on shares of Nasdaq from $119.00 to $109.00 in a research report on Friday, October 9th. Finally, Piper Sandler restated an "overweight" rating and set a $108.00 target price (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $113.53.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 1,125 shares of the business's stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $95.00, for a total transaction of $106,875.00. Following the completion of the transaction, the executive vice president directly owned 96,561 shares in the company, valued at $9,173,295. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nelson Griggs sold 11,010 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider owned 205,001 shares of the company's stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,520 shares of company stock worth $2,520,957. 0.60% of the stock is owned by corporate insiders.

Key Stories Impacting Nasdaq

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Q3 earnings exceeded expectations: Nasdaq reported adjusted EPS of $1.04, topping the $1.02 consensus and rising from $0.88 a year earlier. Net revenue increased 13% year over year to approximately $1.5 billion, while solutions revenue grew 17%. Nasdaq Reports Third Quarter 2026 Results
• Positive Sentiment: Recurring revenue and growth businesses remain strong: Annualized recurring revenue reached a record $3.4 billion, with index revenue up 39% and continued double-digit growth in fintech and technology. Investors are also focused on Nasdaq’s AI-related solutions, tokenization opportunities and recurring-revenue model as potential long-term growth drivers. NDAQ Q3 Deep Dive
• Positive Sentiment: Analysts raised price targets: Goldman Sachs raised its target to $120 and maintained a Buy rating; Morgan Stanley increased its target to $132 with an Overweight rating; JPMorgan lifted its target to $122 and Wells Fargo raised its target to $111. The revisions signal greater confidence in Nasdaq’s earnings and recurring-revenue outlook. Analyst Rating Updates
• Positive Sentiment: Options activity was notably bullish: Traders purchased 7,716 call options, approximately 320% above average call volume, indicating increased speculative interest following the earnings release.
• Neutral Sentiment: Dividend was maintained: Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and an approximate 1.2% yield. The payment is scheduled for December 18. Nasdaq Dividend Announcement
• Negative Sentiment: Valuation and insider selling may be limiting gains: Nasdaq trades near its 52-week high at roughly 30 times earnings. EVP Jeremy Skule also sold 1,125 shares for about $107,000, a modest transaction but part of a broader pattern of insider selling that could weigh on sentiment. SEC Insider Transaction Filing

Nasdaq Stock Down 0.7%

NDAQ stock traded down $0.74 during mid-day trading on Friday, reaching $102.56. The company had a trading volume of 4,204,544 shares, compared to its average volume of 3,160,876. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $94.86 and a two-hundred day simple moving average of $91.05. The company has a market capitalization of $57.33 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.86 and a beta of 0.99. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $104.21.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $1.47 billion. Nasdaq had a return on equity of 19.03% and a net margin of 22.81%. The business's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, equities analysts predict that Nasdaq, Inc. will post 4.13 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 4th. Nasdaq's payout ratio is presently 36.15%.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world's largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq's Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.

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