Vise Technologies Inc. Takes $2.39 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Vise Technologies acquired 30,282 Nasdaq shares in the second quarter, valued at approximately $2.39 million. Institutional investors collectively own 72.47% of Nasdaq’s outstanding stock.
• Nasdaq reported quarterly EPS of $1.07, beating estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a consensus “Buy” rating with an average price target of $110.30.
• Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.3% yield; insiders sold 41,797 shares worth approximately $3.93 million over the last quarter.

Vise Technologies Inc. bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 30,282 shares of the financial services provider's stock, valued at approximately $2,387,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Nasdaq in the second quarter valued at approximately $2,931,637,000. Norges Bank acquired a new stake in Nasdaq during the fourth quarter worth $530,100,000. Morgan Stanley increased its stake in Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock worth $900,061,000 after acquiring an additional 3,567,843 shares during the last quarter. Nuveen LLC raised its position in Nasdaq by 82.0% in the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider's stock valued at $589,897,000 after purchasing an additional 2,736,322 shares during the period. Finally, Harris Associates L P lifted its stake in shares of Nasdaq by 46.0% in the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider's stock valued at $837,425,000 after purchasing an additional 2,716,280 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $98.22 on Friday. The business has a 50-day moving average of $89.85 and a 200 day moving average of $88.04. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 4.15 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq's payout ratio is 36.15%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. Raymond James Financial reiterated an "outperform" rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Finally, TD Cowen reissued a "buy" rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $110.30.

Insider Activity at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of the company's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president directly owned 128,293 shares of the company's stock, valued at $11,881,214.73. This represents a 9.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the sale, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,797 shares of company stock worth $3,926,319. Corporate insiders own 0.60% of the company's stock.

About Nasdaq

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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