Tandem Investment Advisors Inc. Takes $13.89 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Tandem Investment Advisors opened a new position in Nasdaq, buying 163,632 shares valued at about $13.89 million in the first quarter.
• Wall Street sentiment remains constructive, with Nasdaq carrying an average “Buy” rating and a consensus price target of $107.42, despite some mixed target-price revisions from analysts.
• Nasdaq reported solid quarterly results, beating EPS expectations and posting 13.7% year-over-year revenue growth; the company also raised its quarterly dividend to $0.31 per share.

Tandem Investment Advisors Inc. purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 163,632 shares of the financial services provider's stock, valued at approximately $13,891,000.

A number of other institutional investors have also recently bought and sold shares of NDAQ. MV Capital Management Inc. purchased a new stake in Nasdaq during the fourth quarter valued at about $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Nasdaq in the fourth quarter worth approximately $34,000. Nemes Rush Group LLC acquired a new stake in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. acquired a new stake in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in shares of Nasdaq in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Morgan Stanley lowered their price target on Nasdaq from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Friday, July 10th. Finally, TD Cowen dropped their price target on Nasdaq from $104.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Nasdaq presently has an average rating of "Buy" and a consensus target price of $107.42.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Ab Investor bought 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares of the company's stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the sale, the executive vice president directly owned 141,035 shares of the company's stock, valued at $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,551 shares of company stock worth $2,225,990. Corporate insiders own 0.60% of the company's stock.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $91.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The business has a fifty day simple moving average of $87.32 and a 200 day simple moving average of $88.75. The firm has a market cap of $51.83 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 1.46 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business's revenue for the quarter was up 13.7% on a year-over-year basis. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.92 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio (DPR) is presently 37.35%.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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